Midwest Soybean Farmers Squeezed by Tariffs, Iran War

High costs, low prices, and global supply glut put financial pressure on family farms

Apr. 13, 2026 at 5:24am

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A minimalist illustration composed of overlapping triangles and rectangles in shades of blue, green, and red, conveying the economic pressures facing soybean farmers through an abstract visual metaphor.Geometric abstraction captures the complex financial challenges squeezing Midwest soybean farmers.Wahoo Today

Soybean farmers in the Midwest are facing a perfect storm of financial challenges, including rising input costs for fuel, equipment, and fertilizer exacerbated by the Iran war, as well as persistently low soybean prices driven by a global supply glut. The Trump administration's trade war with China also devastated a key export market, and while federal aid has helped, farmers say they are still struggling to recover losses.

Why it matters

The plight of Midwest soybean farmers highlights the broader financial pressures facing American agriculture, with family farms caught between high costs and low commodity prices. As one of the top U.S. agricultural exports, the soybean industry's struggles could have ripple effects on the broader economy.

The details

Soybean farmers like Doug Bartek in Nebraska are grappling with a long list of issues, including the high cost of fuel, equipment, and fertilizer - the latter of which has skyrocketed due to supply chain disruptions from the Iran war. Meanwhile, soybean prices have remained low for years due to a global oversupply, driven in part by increased production in Brazil. The Trump administration's trade war with China, a major buyer of U.S. soybeans, only exacerbated the problem by cutting off a key export market and pushing China to source more from competitors like Brazil.

  • The Trump administration levied tariffs on China in April 2025, sparking a trade war.
  • The U.S. and Israel attacked Iran on February 28, disrupting global fertilizer supplies.
  • A ceasefire deal was announced on April 7, but the future of the agreement remains uncertain.

The players

Doug Bartek

A 60-year-old fifth-generation farmer in Nebraska who operates a 2,000-acre farm.

Justin Sherlock

A soybean farmer and president of the North Dakota Soybean Growers Association.

Paul Mitchell

A professor of agricultural and applied economics at the University of Wisconsin-Madison.

Mike Cerny

A soybean, winter wheat, and corn farmer in Sharon, Wisconsin.

Dave Walton

A corn, soybean, and hay farmer in Iowa and vice president of the American Soybean Association.

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What they’re saying

“Our biggest struggles are our inputs, be it fertilizer, seed, chemical, parts. There has been so much drastic markup in all of these. And I just kind of feel like the farmer's kind of painted in the corner.”

— Doug Bartek, Farmer

“A lot of producers are pretty nervous going into this year. It looks like we're going to have another year of negative returns.”

— Justin Sherlock, Soybean Farmer and President, North Dakota Soybean Growers Association

“There's just a liquidity cash crunch for a lot of them and they're just trying to figure out how to deal with everything.”

— Paul Mitchell, Professor of Agricultural and Applied Economics, University of Wisconsin-Madison

What’s next

The future of the ceasefire deal between the U.S., Israel, and Iran remains uncertain, which could continue to impact global fertilizer supplies and prices. Farmers will be closely watching developments in the trade relationship between the U.S. and China, as well as any additional federal aid programs to support the struggling soybean industry.

The takeaway

Midwest soybean farmers are caught in a perfect storm of high input costs, low commodity prices, and disrupted trade relationships, putting immense financial pressure on family farms that are vital to the U.S. agricultural economy. The industry's struggles highlight the broader challenges facing American agriculture and the need for policy solutions to support farmers.