Farmer sentiment took a downturn at the start of 2024 as the January Purdue University-CME Group Ag Economy Barometer Index fell to a reading of 106, 8 points below a month earlier. Declining prices for key commodities weighed on agricultural producer sentiment in January.
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U.S. farmers’ sentiment changed very little in December compared to the preceding month. The Purdue University-CME Group Ag Economy Barometer recorded a reading of 114, just one point lower than a month earlier.
Read more“It’s not really a reflection of weak economic conditions on the part of producers . . . It just really is reflecting this concern about the future and this uncertainty about the future. That has people on edge and has them worried about where we’re headed.”
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Rising costs and uncertainty about the future continue to be a drag on farmer sentiment.
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