Survey Shows Farmer Sentiment Dropping from Coronavirus Concerns
A Purdue University monthly survey of farmer sentiment revealed that concerns over the impact of the global pandemic on the agricultural economy weighed heavily on farmers’ minds. A mid-March survey of 400 U.S. agricultural producers caused the Purdue University/CME Group Ag Economy Barometer to record its largest one-month drop in sentiment. Seventy-four percent of respondents to the survey said they were either “fairly worried” (34%) or “very worried” (40%) about the impact of the coronavirus on their farm’s profitability this year. That sentiment also spilled over into their perceptions of financial performance, with 40%t of respondents expecting a worse year compared with 2019.