Farmer sentiment improves; less pessimism over interest rates
and CHICAGO, May 2, 2023 /PRNewswire/ -- Farmer sentiment improved modestly in April as the Purdue University/CME Group Ag Economy Barometer rose 6 points to a reading of 123.
- and CHICAGO, May 2, 2023 /PRNewswire/ -- Farmer sentiment improved modestly in April as the Purdue University/CME Group Ag Economy Barometer rose 6 points to a reading of 123.
- "A shift in farmers' expectations regarding the Fed's future interest rate policy could be a key reason."
- At the same time, two-thirds (66%) of producers expect interest rates to keep rising, compared to 75% of respondents who felt that way in February.
- On the other end of the spectrum, 32% of respondents said they were offered lease rates of less than $500 per acre.