Agricultural economic barometer farmer sentiment index rises 14 points

(Photo credit/Pixabay

The Purdue/CME Group Ag economic barometer farmer sentiment index rose in August…

That went up 14 points to a reading of 117. The rise in the overall measure of farmer sentiment was driven by increases in both the index of current conditions and the index of future expectations.

The Ag Economic Barometer is calculated monthly from 400 US farmer responses to telephone surveys. This month’s survey was conducted in mid-August after the U.S. Department of Agriculture released both his August crop production and global agricultural supply and demand forecast reports.

This month, corn and soybean prices rose from lows in July to mid-August, signaling that more growers are hoping their farms will perform better.

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

At the farm level, there is considerable disagreement among farmers as to whether input prices will go up or down next year.

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