In March, the Purdue University/CME Group Ag Economy Barometer declined to its weakest farmer sentiment reading since May 2020. The decline in farmer sentiment is driven by the perceptions of the current ag economy and what could happen in the future. The war in Ukraine is expected to affect the price of inputs, crops and livestock. Fifty-seven percent of farmers participating in the survey expect farm input costs to increase by 20 percent or more this year. More than a quarter of those survey takers say they’ve had challenges purchasing inputs for 2022. Farmers do not expect rising commodity prices to offset the rise in farm production costs.
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