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Report: Slight Increase in Producer Sentiment in July

Still a high level of uncertainty, and ag producer sentiment remains weak

Purdue ag economy barometer July2022

Farmer sentiment improved modestly in July as the Purdue-CME Group Ag Economy Barometer rose 6 points above its June reading.

The sentiment improvement occurred primarily because producers felt better about their current situation as the Index of Current Conditions rose 10 points.

Producers’ assessment of their current financial situation improved as the Farm Financial Performance Index rose 5 points in July, but when asked to look ahead one year nearly half of all respondents said they expect their farms’ financial condition to worsen in the upcoming year.

Producers’ top concerns for the upcoming year continue to focus on the rise in input prices followed closely by lower crop prices, rising interest rates and availability of inputs.

All of these factors point to a high level of uncertainty among ag producers which helps explain why farmer sentiment remains weak.

Read the full report.

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