Iowa farmers are reeling from a 50% income plunge between 2022 and 2024, crushed by plummeting grain prices and skyrocketing costs for fertilizer, fuel, and seeds. Global turmoil—trade wars and conflicts in Ukraine and Iran—fuels fertilizer price spikes, worsening their losses. Many say recent government aid barely scratches the surface, and with farmers spending less locally, small businesses, restaurants, and even schools are feeling the pinch. Yet, there’s hope: livestock prices remain steady, biofuels are stabilizing, and experts note this crisis doesn’t match the severity of the 1980s farm collapse. Still, the strain is real—and it’s shaking the economic foundation of the entire state.
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