Nearly 60% of U.S. farmers say their financial conditions have deteriorated as fertilizer and fuel costs continue to rise, according to a new survey released by the American Farm Bureau Federation.
The survey was conducted between April 3 and April 11 and captures conditions as U.S. farmers begin spring planting, CNBC reported. It attributes rising input costs in part to global shipping disruptions linked to tensions affecting the Strait of Hormuz, a key transit route for energy and fertilizer-related shipments.
