Producer sentiment improves with strengthened commodity prices
Crop input challenges extend beyond inflated cost to availability; 34% of producers experienced some difficulty in purchasing inputs for 2022 crop season.
May 4, 2022
The Purdue University/CME Group Ag Economy Barometer improved in April, up 8 points to a reading of 121; however, it remains 32% below its reading from the same time last year. Producers' perspective on current conditions and future expectations saw an uptick over the past month. The Index of Current Conditions improved 7 points to a reading of 120, and the Index of Future Expectations improved 9 points to a reading of 122. 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 April 18-22.
"Rising prices for major commodities, especially corn and soybeans, appear to be leading the change in producers'