"We're all just in survival mode": Farmers pushed to the brink by diesel costs and tariffs

Matt Bell, 52, has farmed in Kings Mountain, North Carolina for 34 years, growing soybeans, corn and wheat and raising cattle on more than 1,000 acres. He says the past year has brought unprecedented financial strain to his operation.

"I've done this 34 years. I have never worried and stressed like I have the last year," Bell said.

Rising costs squeeze the farm

Diesel is central to the pressure. Bell's fuel costs have roughly doubled over the past year, driven by the naval blockade of the Strait of Hormuz amid the Iran conflict. National diesel prices are averaging about $6.40 per gallon, nearly double last year's rate; North Carolina hit a record $6.19 per gallon this week.

Bell's combine now burns about $600 in diesel a day — more than twice last year's cost. He exhausted his $35,000 annual fuel budget by August and now expects total fuel costs of $50,000–$60,000 for the year.

Tariffs have added further pressure. Bell says costs for fertilizer, chemicals, seed, and parts have all risen. While China agreed in May to buy 25 million metric tons of U.S. soybeans annually through 2028, its 10% retaliatory tariff remains in place, and Bell says China hasn't raised the prices it pays despite farmers' rising production costs.

Adjusting to stay afloat

Bell has cut costs where possible — extending equipment life, producing his own fertilizer, and diversifying into agritourism with a family-run pumpkin patch and hayrides. But he says there's little room left to cut.

"We've cut everything we can cut," he said. "You cannot run without fuel. You cannot run without fertilizer."

"We are fighting for survival"

Bell says some farmers he knows have already left the business due to rising costs, and he doesn't rule out having to do the same.

"I do not want any Americans to feel sorry for the American farmer," he said. "I want the Americans to be mad that we have been put in this situation. We are fighting for survival, and we're running out of options."

"Money's not the problem, I could care less about the money," he said. "But we take a lot of pride in what we do. You can't put a dollar sign on that. But I can't stay in business under these conditions. Something has got to give."