LAFAYETTE, IN - Despite higher grain prices, it appears that producer optimism is fading according to the latest data from the Purdue University/CME Group Ag Economy Barometer.

Pessimism related to possible changes in tax law and increasing input costs may be the catalyst for the downturn says Dr. Jim Mintert, director of the Center for Commercial Agriculture at Purdue University, as the May reading of 158 points is the lowest mark since last September.

Every month, the Barometer is calculated based upon the telephone response of 400 producers nationwide.

Producers also expressed less optimism about their farm's financial performance this month, after hitting a record high in April. Mintert explains that although the Farm Financial Performance Index slipped, it was still the second-highest reading since the financial performance question was first posed in spring 2018 suggesting strong crop prices continue to support farm incomes.
(SOURCE: All Ag News)