Farmer sentiment increased slightly in the August Ag Economy Barometer. According to the survey, presented by Purdue University and the CME Group, farmers were less worried about their farm’s financial situation. Center for Commercial Agriculture Director Jim Mintert says the rally in corn and soybean prices helped. “Prices from mid-July to mid-August improved. Since then, we’ve seen some weakness in prices. We’ll see how that impacts the index moving forward.” Mintert says there are still concerns about what inflation could bring to the farm in 2023. “People are uneasy when considering what margins will look like going into 2023. We asked more specifically about inflation. More producers in this survey are expecting a higher rate of inflation than previously.”
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