Farmer sentiment increases

Photo courtesy of Purdue University/CME Group

From staff reports

Farmer sentiment improved month over month from March to April, according to the Purdue University/CME Group Ag Economy Barometer. The reading was up 8 points to 121 but is still below this time last year by 32%. The barometer surveys 400 U.S. agricultural producers and the survey was conducted between April 18 – and 22. 

The Index of Current Conditions improved 7 points to 120 and the Index of Future Expectations improved 9 points to 122. The improved financial outlook is being attributed to soybeans and other commodities that are seeing a rise in prices. Producers, however, are concerned about higher input costs. The April survey shows that 42% of producers are most concerned about higher input costs as their biggest concern, and they expect prices to continue to rise in the next 12 months. . Government policies came in as the second biggest concern, followed by lower output prices. 

Regarding the Farm Capital Investment, it remains at an all-time low. That is mainly because of supply chain limitations. The rising cost of inputs, equipment, and building materials are also contributing limiting factors.

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