Agri-Pulse DriveTime

North Dakota Senator John Hoeven says additional funding for the war with Iran could prove a vehicle to send more financial support for farmers and victims of wildfires. Food prices ticked up in the month of February and a new study suggests Food Is Medicine could provide a financial support for small and medium sized farms.

The Senate Agriculture Committee held a hearing today focused on strengthening domestic markets for products grown in the U.S.  National Farmers Union President Rob Larew says the farm economic crisis will claim another generation of farmers if Washington doesn't act soon.

The war with Iran and stalled shipping through the Straight of Hormuz is limiting supplies of both crude oil and fertilizer to the rest of the world. Crude prices spiked to near $120 dollars a barrel today. The American Farm Bureau today called on Washington and fertilizer suppliers to help farmers through the economic challenges they are facing.

Domestic and global crude oil prices both settled over $90 per barrel today. A lack of shipments from the region has storage at capacity and production grinding to a halt. In Washington, legislation to allow E15 blended gasoline year-round is nearing completion. EPA Administrator Lee Zeldin will keynote this year's Agri-Pulse Ag and Food Policy Summit.

Agriculture groups shared support for a new farm bill approved by the House Ag Committee realizing much work lies ahead to seeing final language approved by Congress and signed by the President. Iowa farmer Stu Swanson says row crop farmers are facing many challenges.

Approving a stand-alone farm bill is proving to be an uphill climb. Division along party lines was evident in opening statements in the House Agriculture Committee. South Dakota Representative Dusty Johnson says key issues are split along party lines. Iowa Senator Charles Grassley hopes for progress on a farm bill and E15 legislation.

As the Middle East conflict continues, crude, diesel and gasoline prices continue to climb. In a Truth Social post, President Trump suggested political risk insurance and Navy escorts for tankers and other ships through the Strait of Hormuz. The latest farmer opinion survey suggests a slight improvement in their financial outlook, but still increased financial pressure compared to a year ago.

The U.S. conflict with Iran has led to a sharp rally in crude oil prices and gasoline. Higher energy costs and the threat of a major shipping lane is leading to fears that an extended conflict could spark inflation. Renewable fuel advocates say the action is just another reason for Congress to approve legislation to sell E15 gasoline year-round.

Tension is rising between the U.S. and Iran. Nuclear talks will resume next week between the two sides as President Trump adds to the military presence in the region. The U.S. will launch biotech investigations against China. Agriculture Secretary Brooke Rollins says the border will stay closed to Mexican cattle imports as active NWS cases continue to grow.

American Farm Bureau President Zippy Duvall encouraged House Agriculture Committee members to approve a new farm bill when they consider policy next week. Duvall called on Senate Ag leaders to do likewise.  Duvall says farmers are grateful for Bridge Assistance payments but said Congress needs to approve additional funds for struggling producers.