High Input Costs and Rising Interest Rates Top Concerns As Farmer Sentiment Remains Unchanged

Farmer sentiment was unchanged in November as the Purdue University-CME Group Ag Economy Barometer Index came in at a reading of 102, the same as in October. There was however a slight shift in underlying sentiment as the Index of Current Conditions declined 3 points this month to a reading of 98 while the Index of Future Expectations rose 2 points to 104. This month’s survey was conducted the week following the November U.S. elections but, unlike the period immediately following the two most recent presidential elections, there did not appear to be a noticeable sentiment swing attributable to the election outcomes. This month’s survey was conducted from November 14-18, 2022.