High interest rates, inflation pressure farm income

High interest rates, inflation pressure farm income

High input costs continue to put the squeeze on farmers across the country.

Eastern Illinois farmer John Yeley says rising interest rates and inflation have caused him to spend less on fertilizer. “I got a bulk tank at home that can hold two semi loads,” Yeley said. “I looked up what I spent two years ago when I filled that tank and it cost me $18,000 for two semi loads. Now, one semi load would cost me $30,000.”

He tells Brownfield he expects more volatility in 2023.

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