Running harvesters has been more expensive lately, with diesel prices up due to uncertainty in the Middle East. However, those oil markets took a dive overnight after a ceasefire was announced by the White House and confirmed by Iranian state TV.
Details of that agreement are limited, but West Texas intermediate crude oil fell as much as eight percent overnight, landing at its lowest level in a week. President Trump announced a ceasefire yesterday evening after an attack on a U.S. base in Qatar. Analysts say that the attack was largely symbolic and did not do much damage, leading to the sell off.
The price for a gallon of diesel is up $0.16 over the last week. GasBuddy shows it is holding around $3.64 per gallon. Diesel prices have a wide range across the U.S. right now, with the most expensive at $4.55 per gallon, down to $3.08 a gallon.
Moderate oil prices may ease fuel costs, but continued caution in the energy sector could limit rural economic growth.
January 22, 2026 06:00 PM
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Ethanol and corn groups are not hiding their disappointment over new reports that the bill to allow year-round E15 sales failed as Congress forges ahead on government funding, with another shutdown looming.
January 22, 2026 11:24 AM
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Oil-led rallies can move soybean prices quickly, but sustained gains will require continued strength in soybean oil and broader biofuel demand signals.
January 22, 2026 10:39 AM
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Corn growers are turning to ethanol, E15 expansion, and export markets to help absorb record supplies and stabilize prices. Farm leaders discuss low-carbon ethanol demand, flex-fuel vehicle challenges, input costs, and the role of USMCA as producers look for market relief in the year ahead.
January 20, 2026 02:04 PM
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While short-term volatility remains a risk, softer ocean freight rates in 2026 could improve export margins.
January 18, 2026 12:00 PM
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National Corn Growers Association Chief Economist Krista Swanson discusses corn supply pressures, market fundamentals, policy considerations, and producer outlook for the year ahead.
January 16, 2026 01:13 PM
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