Understanding Soaring Food Prices
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., a fourth-generation farmer and founder of the National Association of Black Farmers explains how inflation is impacting farm production.
“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
“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.
Pray for our farmers and ranching we cannot live without Them!