🌾 🇺🇸 👨🌾 U.S. Farm Bankruptcies Surge +46% as Fertilizer Costs Squeeze Farmers:
The American Farm Bureau Federation reported 315 Chapter 12 bankruptcy filings in 2025, up from 216 in 2024 and the third consecutive annual increase.
The Midwest got hit hardest with 121 filings, a +70% jump.
The Southeast followed with 105, up +69%.
Together, those two regions accounted for more than two-thirds of every farm bankruptcy in the country.
Fertilizer prices are pouring gasoline on the fire.
Urea, the most widely used nitrogen fertilizer on the planet, has ripped +87% year-to-date and trades near $720 a tonne.
For corn growers who depend on nitrogen, this is a dire situation.
Many farmers are reporting they will cut the amount of fertilizer they use, shift from corn toward less nitrogen-dependent soybeans, or just take the yield loss.
Farms are under pressure.
📎 Hedgeye
🛢📈 — Reuters reports that oil is approaching $100 per barrel following the latest exchange of attacks between Americans and Iranians on oil tankers.
▶️The price of Brent crude has risen to $97.07 per barrel, while American WTI crude has risen to $92.28. In the past week, Brent has risen by 7.8%, while WTI has risen by nearly 10%.
▶️On Saturday, U.S. forces attacked three Iranian oil tankers, one of which was stationed near the island of Kharg, a key center for Iranian oil exports. In response, the Islamic Revolutionary Guard Corps announced attacks on three oil tankers in the Strait of Hormuz and three more U.S. ships.
▶️In this context, traffic through the Strait of Hormuz has sharply declined. Over the past 10 days, an average of only 10 cargo ships have transited the strait per day – the lowest level since May.
The WHO now states on its website:
Vaccination against COVID-19 can trigger multiple sclerosis through cross-reactive CD4+-T cells that recognize the spike protein of SARS-CoV-2 and myelin peptides.
In other words: Your own immune system destroys the nerve pathways and then attacks your brain and spinal cord.