Social Links Search
Tools
Close

  

Close

INDIANA WEATHER

Farmers Worried About Lowering Crop Prices

Farmers Worried About Lowering Crop Prices


Farmer sentiment dropped sharply in May over concerns about weak crop prices, rising interest rates, high input prices and recent U.S. bank failures.

According to the Ag Economy Barometer, a monthly telephone survey that gathers information from 400 U.S. agricultural producers, declining crop prices were the largest factor hurting farmer sentiments. Delivery bids for corn fell 10 percent, while wheat and soybean bids fell 8 percent.

Shellye Suttles, assistant professor at the O’Neill School of Public and Environmental Affairs at IU, said that more acres planted have caused the decrease.

“I would say domestically first and foremost, more farmers planted more acres, and that's expected that these acres will have increasing yields,” she said. “So, when we have this kind of increase in supply of agricultural commodities, if nothing changes about demand for the product, we will see this kind of change in equilibrium where the new equilibrium will actually lead to a lower price.”

In the background, corn and wheat prices have stabilized overseas, though that may change due to recent events.

“I would say until yesterday, I don't know if you saw the dam breaking in Ukraine yesterday, but there was more conversation, more sentiment around having more security in global wheat and corn prices,” she said.”

Source: indianapublicmedia.org

Photo Credit: istock-primeimages

Indiana NRCS Recognizes the Start of Pride Month 2023 Indiana NRCS Recognizes the Start of Pride Month 2023
Indiana Cheese Maker Tulip Tree Creamery Awarded $100K Grant from Dairy Business Innovation Alliance Indiana Cheese Maker Tulip Tree Creamery Awarded $100K Grant from Dairy Business Innovation Alliance

Categories: Indiana, Crops, Corn, Soybeans, Wheat

Subscribe to Farms.com newsletters

Crop News

Rural Lifestyle News

Livestock News

General News

Government & Policy News

National News

Back To Top