According to the Ag Economy Barometer report published on March 1st by Purdue University and also by the CME Group, the increase gradual increase in the costs of inputs and also of the supplementary chain remains the number 1 concern of farmers North Americans.
The Ag Economy Barometer is based on responses from 400 United States agricultural producers in a telephone survey. The survey was conducted between February 14th and 18th, a few days before Russia's invasion of Ukraine.
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In February, the Agricultural Financial Performance Index stayed the same under a reading of 83 points. However, there was an exponential drop of 27% in the index at the end of 2021, which means that the rural producers are pessimistic about the financial performance of 2022, expecting that this year will be worse that 2021. This index is generated from producers' responses about their sentiment regarding the financial performance of their farm compared to the previous year.
“These survey responses suggest that concerns about rising production costs and supply chain issues continue to primarily outweigh the impact the rise in commodity prices that is underway this winter,” explained James Mintert, barometer investigator and director of the University of California Research Center. Purdue.
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