American Farm Bureau Federation Economist Faith Parum says higher expenses, particularly for fertilizer and fuel, are intensifying challenges across agriculture. “We have seen a really downturn farm economy, and we’ve seen production expenses continue to increase,” Parum said. “With the conflict in Iran, we’ve continued to see high fertilizer prices, high fuel prices, putting more and more pressure on American farmers and ranchers.” Parum says the situation is comparable to past farm downturns, noting long-term impacts on rural communities. “We’ve seen 170,000 farms closed in the last six or so years, and that’s really putting pressure on Rural America.”
