News Summary

• Farmer sentiment dropped again in May as the Purdue University-CME Group Ag Economy Barometer (AEB) Index declined from 121 points in April to 119 (see Figure 1).
• The Current Conditions Index fell by 8 points, while the Future Expectations Index increased by 1 point.
• The main concern is rising input costs (fertilizer, energy etc).
• While some commodity prices have risen, they have been outpaced by input costs.
• And yet, despite all this, they stand by their MAN.