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How are low fuel prices impacting farmers?

Farmers across the country say low fuel prices are impacting them in different ways.

During a US Soybean Export Council virtual summit Wednesday, a panel of corn and soybean farmers said low fuel prices have not changed their planting intentions, but will have economic impacts.

Northeast Arkansas farmer Derek Haigwood says the dramatic drop in fuel prices is an upside for farmers running full throttle through planting right now.

“It is just something that we are going to try to take advantage of. We have booked out eight months of fuel.”

Southeast Illinois farmer Doug Winter farms in the largest crude oil producing county in his state, so his area has seen a large increase in unemployment.

“I would really rather see higher petroleum prices where we are to give a better margin to the ethanol producers and to keep those people with a job.”

The US Energy Information Administration has reported record low ethanol production the past two weeks because of slow blending demand and reduced travel from COVID-19.