For the third month in a row, agricultural producer sentiment weakened in October as the Ag Economy Barometer declined. The decline in the overall sentiment index occurred as a result of producers’ weaker perceptions regarding both current and future conditions in the production agriculture sector. This decline in sentiment comes despite substantially higher commodity prices over recent years. The driving factors for the decline in sentiment relate to cost pressures on inputs, which have increased substantially across the board largely due to supply shortages, supply chain disruptions, increased energy and transportation costs, and other inflationary pressures.
More below:
https://www.agri-pulse.com/articles/16727-farmer-sentiment-drops-on-inflation-cost-concerns