Tag: Oil Prices

K-State economist Gregg Ibendahl warns that rising oil prices, potentially reaching $90 per barrel, threaten farm profitability by increasing production costs. Higher diesel and fertilizer prices could add significant expenses for farmers, with fertilizer costs expected to rise by about 10%. Producers should closely monitor these market trends for potential impacts.

Kansas State University economist Gregg Ibendahl predicts that farmers will benefit from lower diesel fuel prices this summer due to a year-over-year decline in oil prices. With oil dropping from the $70 range to the $60 range, farmers can save by purchasing diesel now rather than later, enhancing their net income.

On the week, the national gas price average held steady at $2.56, with the Kansas average rising two cents...