Lower commodity prices played a role in the drop in farmer sentiment in the latest Purdue University/CME Group Ag Economy Barometer
Jim Mintert, the survey’s principal investigator and director of Purdue’s Center for Commercial Agriculture, says the weaker prices from mid-February to mid-March aligned with the timing of the latest survey.
“If you look at when we collected data in mid-February versus the week we collected data in mid-March, commodity prices for the key commodities including corn, soybeans, and wheat dropped pretty sharply over that timeframe for both old crop and new crop,” he says.
