Farmer sentiment was notably lower in August thanks to rising interest rates and concerns over high input prices.
According to the Ag Economy Barometer, a monthly telephone survey that gathers information from 400 U.S. agricultural producers, over half of those surveyed expect interest rates to rise in the next year.
Thirty-four percent of producers said that high input costs, meaning things like diesel fuel and fertilizer, are also a top concern for their farming operations.
Only one in five producers chose declining commodity prices as a top concern. Crop prices weakened significantly over the summer due to decreased demand.
Producers remain cautiously optimistic about farmland values; 39 percent of respondents said they expect farmland values to rise over the next year and 63 percent expect values to rise over the next five years.
Source: indianapublicmedia.org
Photo Credit: gettyimages-lishanskyphotography
Categories: Indiana, Business