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The global surge in diesel prices is putting additional pressure on farmers just as harvesting and planting activity intensifies, raising production costs and risks for future food supplies. The increase has been driven by disruptions in the Strait of Hormuz and lower fuel output from Russian refineries. In Australia,…
“It’s killing the whole nation,” said Missouri farmer Marty Richardson, who is reluctant to harvest his rain-drenched corn fields as his machines will chew up more diesel in the mud and he can’t afford to waste a drop.
U.S. farm debt is set to hit $605 billion in 2026 as hidden credit, rising costs and tighter margins increase financial risks across American agriculture.