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'Am I out?' Drought and rising costs from Iran war deepen pain for US farmers
Fuel and fertilizer prices have surged 72% and drought has cut wheat yields, leaving farmers to skip inputs or seek insurance losses, officials said.
On Tuesday, USDA Secretary Brooke Rollins acknowledged U.S. farmers face significant financial hardship, stating, "We are seeing significant price increases at a time when our farm economy is struggling."
Since the closure of the Strait of Hormuz in late February, farm diesel costs climbed 72%, while urea prices rose 55%, according to Kentucky Farm Bureau testimony to a U.S. Senate committee.
In West Texas, Scott Irlbeck reported winter wheat yields dropped to 18 to 20 bushels per acre, while Kody Carson of Olton, Texas, may forgo fertilizer for his 2,400 acres of cotton.
More than 60% of the continental United States is currently experiencing drought, impacting about 153 million people across the agricultural sector.
Amanda De Oliveira Silva, an Oklahoma State University agronomist, noted in late April that "rain can help preserve what's left, but it won't reverse the damage already done.