The Russian invasion of Ukraine is beginning to affect many American farmers' wallets and could put some in danger of going out of business.
Prices of fuel, corn, and wheat have gone up in recent weeks, and it's started to make farmers nervous for how much they're going to have to spend to power their machines and feed their animals.
Corn prices rose to $7.4775 per bushel on March 2, according to CNBC, making it the highest its been since Dec. 7, 2012 when corn costed $7.5275 per bushel.
Ukraine is one of the world's largest corn exporters, covering about 16% of corn exports, according to NBC News. They also are responsible for exporting about 12% of the world's wheat, while Russia exports 17% of the wheat.
Wheat prices jumped 7.62% in the beginning of the month, increasing to $10.59 per bushel. It hadn't been that high since it cost $10.9125 on March 26, 2008.
Corn is one of the main foods that famers' animals eat as part of their diets, and Edward Morse, a livestock farmer from Iowa, told NBC News that it takes nearly 80 bushels of corn to raise a steer.
"The livestock farmers are very nervous because of the high feed costs that we’re going to have to face," Morse said.
Ernie Goss, an economics professor at Creighton University, said that corn prices are really going to impact farmers in the United States, and he's unsure how they will be able to handle the costs. Although, he explained that it won't only be farmers hurting from the increased prices.
"Consumers will be negatively affected in terms of prices," Goss said. "The fact is the cost for the farmer has gone up, so a portion of that has to be passed to the consumer in higher prices."
Increasing gas prices aren't helping farmers either, as most of their machines run on diesel fuel. The average price for diesel gas is currently $5.104 per gallon, according to AAA.
Terry Hayhurst, a farmer from Indiana, grows corn, among other grains, and also raises cattle. He told NBC News that his costs for corn and diesel will likely increase from about $300,000 to nearly $700,000 if prices continue to go up.
"The longer this war goes on, the more ranchers and farmers who raise cattle will be put out of business. It’s hard to say how many," John Hansen, the president of the Nebraska Farmers Union, said. "This war will have adverse effects for livestock producers."
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