How inflation, war in Ukraine is impacting US farm production

(NewsNation) — The war in Ukraine has had an impact on the cost of food and commodities in the United States.

Three major commodities: corn, wheat and soybeans all closed in the red on Friday. And the prices of oil and fertilizer have been climbing.

John Boyd Jr., fourth-generation farmer and founder of the National Association of Black Farmers (NABF), discussed how inflation is impacting farm production during an appearance on “Morning in America”.

“The prices of fertilizer have pretty much doubled,” he said. “The price of diesel fuel, depending on what region of the country you live in, it’s $4 and $5 a gallon. These are prices that have doubled from last year. And these are upfront costs for farmers.”

Boyd farms the three most important essentials: corn, wheat, and soybeans. He also farms beef and cattle. He has been farming for 39 years and runs a 1,000-acre farm that his father used to run in Virginia.

“A lot of people don’t understand how it works,” he said. “We have to pay for these things before we actually sell the actual commodities. And the consumers, the American people, are going to feel the pinch in the coming months.”

Boyd says the war in Ukraine is affecting American farmers.

“(Ukraine) is a huge exporter of wheat, corn, barley, some of the major commodities,” he said. “And when you take those acres and production out of the loop, here, someone is going to feel the pinch when you have those particular food shortages coming in the coming months. So right now, it’s a really trying and troubled time for American farmers.”

Many large-scale farming operations are more prepared to weather the shortages, according to Boyd.

“Many large-scale producers have already bought their fertilizer and seed. They buy those after harvest time in November,” he said. Many black farmers don’t. Like myself, who pretty much buy seed and lime and fertilizer and diesel fuel right now, as we need to use them.”

Boyd said the war in Ukraine has “pretty much took a whole country out of circulation.”

Ukrainian farmers “will not be able to plant a crop in that region of the country because of the war,” he said.

Boyd calls farming very time-sensitive.

“You have to be able to plant on time and harvest on time,” he said. “And those farmers will not be able to plan based on the ongoing war in the country. So you’re gonna see a lot of food out of circulation this year.”

With some food out of circulation, some food will be more expensive, but in much greater demand, which will hopefully be an economic stimulant for America’s farmers and farmers around the world.

Watch the full interview with John Boyd Jr. in the video player at the top of the page.