DECATUR, Ill. (WAND) – Soybean farmers were hurt by tariffs in 2025, losing export markets while nations like China stopped buying the U.S. crop.
This year, they will be faced with more economic hurdles with the continued conflict with Iran.
Fuel and fertilizer prices have spiked while Iran has blocked the Strait of Hormuz, choking off supplies of both commodities.
Fertilizer supply chains are seeing reduced shipments of nitrogen-based products, phosphates and potash. The shortage is coming as the spring planting season is approaching.
“I met with some farmers from central Illinois in my office a few minutes ago,” Sen. Dick Durbin of Illinois told WAND about his meeting with members of the Illinois Soybean Association. “They’re worrying about what it means for input costs for fertilizer and fuel.”
The Strait of Hormuz is a critical shipping route. Among the commodities impacted by the Iran blockage are oil, soybean meal, and a variety of fertilizers including potash.
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