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.

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.