The Purdue University/CME Group Ag Economy Barometer, calculated each month from 400 US producers’ responses to a telephone survey, dropped 19 points to 104, its lowest level since July 2022.
“The Index of Future Expectations was down 22 points to a reading of 98 in May, while the Index of Current Conditions was down 13 points to a reading of 116,” World Grain said.
The lower sentiment came on the back of drops in both of the barometers’ subindices, which was likely triggered by weakened crop prices, according to the barometer’s principal investigator, Jim Mintert.
“In mid-May, the Eastern Corn Belt fall delivery bids for corn fell over 50¢ per bushel (10%) and soybean bids declined over $1 per bushel (8%), while new crop June/July delivery wheat bids declined nearly 50¢ per bushel (8%), all compared to bids available in mid-April when last month’s barometer survey was conducted,” World Grain explained.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Review: the Toyota Hilux 2.8GD-6 DC 4×4 GR-Sport III
The third iteration of the Hilux GR-Sport has finally achieved a sense of presence and style befitting its raceinspired branding. But is this the ultimate modern Hilux? Car Magazine takes a closer look.
Why maize prices soar in Kenya and Malawi but not Tanzania
Namhla Landani, an economist at the Centre for Competition, Regulation and Economic Development, University of Johannesburg, and Arthur Khomotso Mahuma, economist and researcher at the Centre for Competition, Regulation and Economic Development, University of Johannesburg, analyse the issue.
Wet carcass syndrome: a scourge in SA sheep farming
Wet carcass syndrome continues to take a huge financial toll on South African sheep farmers. Octavia Avesca Spandiel spoke to two experts about the ongoing genetic research aimed at addressing this issue.
Pollination innovation
Bee-Tech Group is transforming South African agriculture with pollination technologies that boost crop yields and enhance sustainability. Founder Michiel Bruggeman spoke to Octavia Avesca Spandiel.
The valuable addition that makes this farm tick
Owning the value chain provides farmers with far more control over their produce. However, it requires a fine balance between production and ensuring there is a strong and steady market. Lindi Botha visited Rosemary Hill to find out how this essential oil producer leverages hospitality to make the farm viable.
The benefits of recirculating aquaculture systems
A powerful set of attributes has established recirculating aquaculture systems as a cornerstone of global temperate fish farming, writes Leslie Ter Morshuizen, owner of Aquaculture Solutions.
Minister has big plans for emerging and commercial farmers
DA leader and Minister of Agriculture John Steenhuisen spoke to Glenneis Kriel about his priorities for his department over the next five years, including an increased focus on biosecurity.
New study aims to make wheat more disease resistant
A recent international study explains how bread wheat has helped to transform the ancient world on its path to becoming the iconic crop that today helps sustain a global population of eight billion.
Conservation farming and biodiversity boost soil health and sustainability
A recent academic event focused on research into the links between soil biodiversity, soil health and sustainable agriculture
What has led to the unparalleled rice shortage in Japan?
Japan is facing a rice shortage amid concerns about a potential 'megaquake', several typhoons and an annual week-long holiday, which has led to an increase in panic buying.