Farm economy

The Trump administration has tried to lower beef prices for months, but demand, drought and a parasite have foiled its efforts. Some ranchers are frustrated with the administration’s latest moves.

More farmers are opting to repair old tractors, combines and other machinery instead of buying new upgrades. A tough farm economy and historically-high equipment prices are at least partly to blame.

Childcare costs in Missouri and Kansas can now rival a mortgage for working families, but two Midwestern lawmakers are fighting to change that. Plus: After the Affordable Care Act tax credits lapsed, healthcare premiums spiked for millions of farmers and ranchers.

Passing on the family farm to the next generation is typically an involved process, both financially and emotionally. A turbulent agricultural economy the past few years has made that transition even more difficult.

Experts say affordable housing and a lower cost of living are driving people back into the Midwest. Plus: Many farmers are worried whether they'll see a profit this year thanks to high supply costs.

Corn and soybean growers have seen several years of low commodity prices and increased costs for supplies like fertilizer and fuel. That has many farmers worried about whether they'll turn a profit this year and drawn some comparisons to a dark time in American agriculture.

The Trump administration lowered tariffs on farm equipment last month. But with economic pressures on farmers, equipment dealers and manufacturers, the move may not bring much relief.

A bill allowing year-round sales of E15, a fuel blended with up to 15% corn-based ethanol, is being debated in the Senate. While the bill is hailed as a boon for corn growers, there are concerns that it could hurt soybean prices.

The House passed a bill to allow the year-round sale of E15 – a priority in farm states – following infighting among Republicans.

The cost of doing business in agriculture was already high before the blockade of the Strait of Hormuz, which spiked fertilizer and fuel prices. Now, making any money this season may require farmers to cut back on certain resources.

The Strait of Hormuz, a vital trade passageway, remains virtually closed due to the war in Iran. That’s driven up the prices of key agricultural necessities, which could remain high into next year.

Higher costs and lower prices are squeezing farmers out of profitability. That’s led many to file for bankruptcy as a last resort to find aid.