Farmer of 34 years in crisis

Matt Bell, fifty-two, has farmed soybeans, corn, wheat and beef cattle on more than one thousand acres in central North Carolina for more than half his life. He voted for Trump but now says costs are crushing his operation.

Stress like never before

Bell told CBS News on Wednesday at his farm in Kings Mountain, North Carolina that soaring prices for fuel, fertilizer and equipment are hurting his operation. He says fellow farmers are considering quitting after this growing season.

“I've done this 34 years. I have never worried and stressed like I have the last year.”

Cutting everything possible

Bell has shifted acreage, stretched equipment lifespan and produces his own fertilizer. His children opened a pumpkin and hayride storefront. But he says there is nothing left to cut. You cannot run without fuel or fertilizer.

“We've cut everything we can cut.”

Diesel costs have doubled

Bell's diesel fuel costs have about doubled since last year. Diesel prices nationwide are averaging roughly six dollars and forty cents per gallon, according to AAA, nearly double the average price a year ago.

Iran war squeezes global fuel

The war with Iran has driven up fuel costs and created supply chain disruptions. The Strait of Hormuz remains under naval blockade with limited oil tankers allowed through. Houthi rebels and Iranian proxy forces are attacking Saudi infrastructure.

Six hundred dollars a day in fuel

Bell's combine requires about six hundred dollars worth of diesel fuel per day, more than twice what he paid last year. He blew through his yearly fuel budget of thirty-five thousand dollars in August and now expects the total to be fifty thousand to sixty thousand dollars.

Tariffs drive up everything

President Trump's tariffs have also driven up costs for fertilizer, fuel, chemicals, seed and parts. China's ten percent retaliatory tariff on U.S. soybeans remains in place, but China hasn't increased prices it pays for U.S. soybeans even though production costs have risen.

“Everything that we touch has gone up.”

Feeling misled by administration

Bell initially supported Trump's policies but now says the administration has made miscalculations in the war. He says agriculture policy is not what he was promised and the farmer bailout program is not significant enough.

“I think we've been misled.”

Voting split ticket this November

Bell says he will vote for candidates with common sense who listen to Americans' concerns. Though he is a Republican, he says he will probably vote a split ticket in November.

“I'm a Republican, but I'm probably going to vote a split ticket.”

Fighting for survival or shutting down

Bell knows farmers forced out of business by high costs. He says Americans should be mad farmers are in this situation. He acknowledges he could be forced to shutter his farm and cannot stay in business under these conditions.

“We are fighting for survival, and we're running out of options.”