In my area, people who bitch the most about the price of gas and farmers were among the loudest Trump supporters. (by counting Trump signs and Biden "I did That" stickers on gas pumps.)
Both are now finding out.
How Long Can Demand Destruction Keep a Lid on Oil Prices?
U.S. consumers have paid an extra $40 billion for gasoline since the Iran war began March 1, with the SPR now days away from its lowest level since 1983.
Farmer sentiment dropped again in May as the Purdue University-CME Group Ag Economy Barometer (AEB) Index declined from 121 points in April to 119 (see Figure 1). The Current Conditions Index fell by 8 points, while the Future Expectations Index increased by 1 point (see Figure 2). This month’s Current Conditions Index was 21 points below last year’s December index, reaching its lowest level since December 2024.
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