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The Center for Commercial Agriculture’s newsletter, Commercial AgNews! The newsletter is delivered twice a month providing you with updates regarding upcoming Center programs, as well as newly available articles and resources.
| MAY 12, 2023 | |||||||||||||||
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Update from the CenterYou've probably noticed a change in the Center for Commercial Agriculture's communications strategy. To do a better job of keeping you up-to-date on new postings to our website, we've started sending new articles out in email format as soon as they are available with links back to the website for additional information, primarily charts and tables. Just this week, we've sent emails and posted articles focused on the link between producer sentiment and farm growth; a detailed look at U.S. corn exports continued weakness; and why managing strategic risk is so important in production agriculture. This newsletter will continue to serve as a periodic reminder of our most recent web postings and upcoming programming. Regular users of our Crop Basis Tool have noticed that it's not been working in recent days. Nathan Thompson is working on deploying a new and improved Crop Basis Tool that will provide you with more ways to examine corn and soybean basis levels and patterns. In particular, you'll be able to examine corn basis levels averaged across Indiana's ethanol plants in addition to Ohio River market corn and soybean basis levels. Look for the new Tool to become operational the week of May 15th. Farmer sentiment improved modestly in April as the Purdue University-CME Group Ag Economy Barometer reversed a two-month decline by rising 6 points to a reading of 123. A more optimistic view of the future was the biggest driver behind the sentiment shift this month. More producers expect prime interest rates to either hold steady or possibly decline during the next 12 months than felt that way earlier in the year. Producers’ perspective on farmland values also shifted somewhat in April with fewer producers expecting values to decline in the upcoming year and more producers looking for values to rise than a month earlier. Finally, when asked about the possibility of a new Farm Bill being passed by Congress in 2023, responses were mixed with just 40% of producers saying that they think passage is at least somewhat likely. |
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