Ag Economy Barometer Farmer Sentiment Index Up 14 Points

Ag Economy Barometer Farmer Sentiment Index Up 14 Points

(Photo supplied/Pixabay https://pixabay.com/photos/tractor-agriculture-nature-harvest-6704118/)

The Purdue University/CME Group Ag Economy Barometer Farmer Sentiment Index Soared in August…

It rose 14 points to a reading of 117. The rise in the overall measure of agricultural producer sentiment was driven by increases in both the Present Conditions Index and the Futures Index.

The Ag Economy Barometer is calculated each month based on the responses of 400 U.S. agricultural producers to a telephone survey. This month’s survey was conducted in mid-August after the U.S. Department of Agriculture released both its August crop production reports and its estimates of world agricultural supply and demand.

This month, more producers indicated they expect better financial performance for their farms as both corn and soybean prices rose from their lows in July to mid-August.

When asked about their biggest concerns, more than half of respondents chose higher input costs, followed by rising interest rates, input availability and lower output prices.

At the farm level, there are wide differences in opinion among farmers about whether input prices will rise or fall next year.

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