USA: Farmer sentiment sours as crop prices decline
United States
Published Jun 8, 2023
Tridge summary
Purdue University Extension Ag Economy Barometer
Original content
According to the latest Purdue University/CME Group Ag Economy Barometer, producer sentiment fell to its weakest reading since July 2022. Farmer sentiment declined 19 points to a reading of 104 in May. The Index of Future Expectations was down 22 points to a reading of 98 in May, while the Index of Current Conditions declined 13 points to a reading of 116, according to a news release. The month’s lower sentiment was fueled by drops in both of the barometer’s sub-indices and likely triggered by weakened crop prices, according to the report. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted between May 15-19. “Producers are feeling the squeeze from weakened crop prices, which has reduced their expectations for strong financial performance in the coming year,” James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial ...
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