Strong harvest-time commodity prices pushed farmer confidence to its highest level in 16 months, said a Purdue University poll of large operators released on Tuesday.
The abrupt 24-point climb in the Ag Economy Barometer “was motivated by producers’ stronger perception of current financial conditions on their farms,” said agricultural economists James Mintert and Michael Langemeier.
While producers said 2022 was a better year financially than 2021, in line with USDA estimates of record-high net farm income in 2022, their euphoria faded when asked about the new year.