A measurement of the state of mind in farm country is at an all-time high as producers report optimism about future financial conditions due to a recent commodity market price rally and another round of direct payments from the Department of Agriculture.

Ag bankers and federal regulators should conduct stress tests to assess the financial risks of climate change, which poses a major threat to U.S. agriculture, says a new report released by a Commodity Futures Trading Commission commissioner.

The nation’s producers are at their most optimistic since the onset of the COVID-19 pandemic earlier this year based on improved expectations for commodity prices and U.S. agricultural trade.

A measurement of the state of mind in farm country showed little change in July and remains far lower than levels observed prior to the pandemic.

Producer optimism increased in May, according to a survey conducted the same week USDA released details about the $16 billion in direct payments through the Coronavirus Food Assistance Program.

A measure of the state of farm country dropped for the second month in a row, “effectively wiping out the improvement in sentiment that took place following the 2016 election.”