Across the globe, geopolitical events are hitting U.S. farmers where it hurts: fuel.
Tension between Israel and Iran has the oil markets spooked. Energy analysts were predicting a slow summer for fuel prices, but those estimates are gone.
The national average for a gallon of diesel has gone up $0.04 over the last week, holding around $3.48, but increases are not likely to stop there. GasBuddy’s Patrick DeHaan says diesel could climb $0.15-$0.25 per gallon in the coming days.
Related Stories
Corn export pace remains the bright spot, but stable ethanol export demand remains a critical support for corn markets.
RFD Farm Legal & Tax expert Roger McEowen shares guidance on the 45Z Clean Fuel Production Credit, its impact on renewable energy and agriculture, and what producers should know moving forward.
Brooks York of AgriSompo discusses projected prices and how farmers are adapting their crop insurance strategies as the price discovery period comes to a close.
Stronger fuel demand supports corn usage despite a steady production pace.
Biofuel and corn producers await proposal as Renewable Fuels Association pushes for expanded ethanol access.
Fuel costs ease over the long term, but fertilizer energy remains volatile.
