The wettest year in memory has stalled planting and stunted crops in the U.S. Midwest at a time when farmers are already struggling with low prices and a trade war with China, Bloomberg News reported. But they’re not alone. The communities they live in and the businesses that supply them with seeds, fertilizer, equipment and services are struggling as credit conditions steadily deteriorate in a fragile rural economy. The wet weather is presenting farmers with other purchasing dilemmas. Growers are weighing whether to trade up to the latest technology to protect crops and businesses, or use prior versions, according to Mark Patrick, chief financial officer of agro-chemical giant Syngenta AG. The fertilizer business is already feeling the effects. Midwest urea premiums have been running at more than double normal levels. While that’s good news for suppliers, the reason behind the price surge isn’t. With the Mississippi River closed for much of the past month, the regular flow of crop-nutrient shipments has been disrupted with barges stacked up waiting to move, according to Alexis Maxwell, research director for Bloomberg Green Markets.
