Nearly two-thirds of farmers surveyed in mid-April said the war with Iran would negatively affect their income, according to the latest Purdue University-CME Group Ag Economy Barometer.
Twelve percent said it would have a very negative impact while 53.5% said it would be merely negative. About one in five surveyed said it would have no impact, and the rest – 13.8% – said the impact would be positive or very positive.
Asked about the war’s impact on corn prices, about half of producers surveyed said it would result in an increase in breakeven prices up to 6%, and 37.6% said 10% or more.
The percentage of producers who said the United States is on the “wrong track” increased to 43%, an eight-percentage-point jump from March. Fifty-seven percent said the country is headed in the “right direction,” down from 75% in December.
It’s easy to be “in the know” about what’s happening in Washington, D.C. Sign up for a FREE month of Agri-Pulse news! Simply click here
Overall farmer sentiment dropped in April. The Current Conditions Index fell by 11 points to 115, while the Future Expectations Index decreased by 4 points to 124. “This month’s Future Expectations Index was 16 points below last year’s December index and 28 points below last year’s April index,” according to a summary.
The percentage of respondents who listed high input costs as their biggest concern stayed steady at 46%, but the percentage who listed input availability as their biggest concern increased from 11% to 14%.
