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US farmer sentiment rebounds in July on higher crop prices
The Purdue University/CME Group barometer rose 13 points to 126, while the Future Expectations Index climbed 11 points to 129 despite 46% of farmers citing high input costs as the top challenge.
US farmer sentiment rebounded in July after three straight months of decline, according to the Purdue University/CME Group Ag Economy Barometer. The barometer rose 13 points to 126, while the Current Conditions Index increased 20 points to 122 and the Future Expectations Index gained 11 points to 129.
World Grain reports the survey, conducted July 13 to 17 among 405 farmers nationwide, found producers remain worried about the costs of running operations. High input costs were the top concern, with 46% of respondents saying they were the biggest challenge facing their operation.
Looking ahead 5 to 10 years, 30% of farmers pointed to crop or livestock prices as the biggest challenge to success. The Farm Capital Investment Index also ended a three-month decline, with the July reading at 50, and 13% said they were better off financially than a year ago, while nearly one-quarter expect their financial position to improve over the next 12 months.
The survey also showed how pricing concerns are shaping priorities, with 44% of respondents naming marketing as the top risk management education need. World Grain adds that on exports, 42% expect US agricultural exports to increase over the next five years, versus 13% who expect them to decline.