"This hearing is being held during what continues to be a very precarious time across America's agricultural economy … I would say it's a generational event. While input prices for our producers have been stubbornly high for the past several years, this situation has recently become more acute as farm bankruptcies increase, fuel prices remain high and interest rates have yet to come down." — U.S. Sen. John Boozman (R-Ark.), committee chair
Driving the news: The Senate Agriculture Committee held a hearing on high fertilizer prices and supply disruptions Tuesday as rising input costs squeeze farmers during an already fragile farm economy.
The big picture: Senators in both parties agree the problem is urgent, but they split over how much of it is driven by war and trade policy versus market concentration and weak competition.
State of play: Lawmakers broadly agree the U.S. should expand domestic fertilizer supply, though Democrats argue that won't be enough without more price transparency and stronger competition.
