According to a recent Purdue University/CME Group Ag Economy Barometer, farmer sentiment has slightly improved compared to the previous month. However, concerns still remain among farmers, as Jim Mintert from Purdue’s Center for Commercial Agriculture explains.
The increase in farmer sentiment is mainly attributed to improved expectations for the future. The index of future expectations rose by 11 points compared to April and was 19 points higher than it was a year ago. Despite this optimism, farmers are less confident about their current financial situation.
Farmers are facing challenges such as high input costs and declining commodity prices, which are affecting their financial outlook. Mintert notes that these challenges align with what farmers are currently experiencing in the agricultural sector. The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy and surveys 400 agricultural producers each month regarding their economic sentiment.
