Market Pulse

Week of October 15, 2026

Trump’s diesel measures have yet to deliver lasting price relief. President Donald Trump announced steps to increase diesel supplies, including a deal involving Russian diesel and expanded access to tax-exempt fuel. The national average retail diesel price eased to $6.18 per gallon for the week ending Oct. 12, down from $6.20 the previous week. However, global supply disruptions continue to threaten freight and transportation costs. For equipment manufacturers, diesel prices directly affect inbound materials, outbound shipments and supplier surcharges.

🏗️ Steel prices remain a concern for manufacturers. Nucor’s hot-rolled coil consumer spot price reached $1,230 per ton for the week of Oct. 5, up from $1,220 the previous week. Tight domestic supply and lower steel imports are adding pressure to material costs. Manufacturers should monitor steel pricing and supplier lead times as they plan production and inventory needs.

🔩 Aluminum supply risks remain elevated. Production disruptions in the Gulf region, tariffs and supply-chain pressures continue to affect aluminum availability and delivered costs. Although global benchmark prices have remained relatively steady, manufacturers could still face higher U.S. premiums and sourcing delays for aluminum components.

📊 Manufacturing input costs continue to climb. The Institute for Supply Management’s Prices Index rose to 77.9 in September, up 6.8 points from August, marking the 24th consecutive month of rising raw-material prices. Steel, aluminum, tariffs and petroleum-based products were among the cost pressures. Higher input prices can squeeze margins and complicate pricing decisions for new equipment and replacement parts.

🌱 Fertilizer costs are climbing ahead of the 2027 planting season. All eight major fertilizer products tracked by DTN are now more expensive than a year ago. Anhydrous ammonia averaged $977 per ton, up 20% year over year, while urea averaged $672 per ton, up 12%. UAN32 rose 6% in the past month to $485 per ton. Higher input costs could tighten farm budgets and influence equipment replacement decisions heading into next year.

🌽 Corn and soybean harvests remain behind schedule. As of Oct. 11, 33% of the U.S. corn crop had been harvested, six percentage points behind the five-year average. Soybean harvest reached 46%, four percentage points behind average. Continued delays could affect harvest logistics, cash flow and the timing of farmers’ equipment purchasing decisions.

🚜 What Manufacturers Should Watch

Steel and aluminum costs, freight expenses and supplier lead times remain key pressure points for equipment manufacturers. Meanwhile, elevated fertilizer costs and delayed harvest progress could put additional pressure on farm finances and equipment purchasing decisions. Manufacturers and dealers should monitor material commitments, supplier delivery schedules, freight surcharges and order activity as they plan for year-end and early 2027.

Sources: U.S. Energy Information Administration, Reuters, Trump’s diesel supply measures, Reuters, aluminum supply-chain pressures, Industrial Tube and Steel, Institute for Supply Management, DTN and Successful Farming.