Lower Crop Prices Weigh on US Producer Sentiment

Jun 08, 2023

US farmer sentiment declined to its lowest in almost a year in May following a steep fall in crop prices.

Released Tuesday, the Purdue University-CME Group Ag Economy Barometer Index - which is based on a monthly survey of 400 producers across the country - came in at a reading of 104 points in May, down 19 points from April.

Crop price weakness helped trigger the sentiment decline, the barometer commentary said. Eastern Corn Belt fall delivery bids for corn fell over 50 cents/bu (10%) and soybean bids declined over $1/bu (8%) while new-crop June/July delivery wheat bids declined nearly 50 cents/bu (8%) in mid-May, all compared to bids available in mid-April when the April survey was conducted. The survey for the May barometer was conducted from May 15-19, 2023.

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Video: Our Own On-Farm Research Is the Best Source - Managing White Mold in Northeast Nebraska

If you assumed Nebraska was too hot and dry for white mold to be a problem in soybeans, think again.

This week we're featuring Galen Samuelson, a farmer and dealer from Wakefield, Nebraska, who knows all too well how devastating white mold can be.

"We don't have it consistently every year, but with our temperature and humidity, it can hurt us quite bad," Samuelson says. Looking for alternatives, he explains, "What I like about Heads Up is that it's non-harmful to the beneficial fungal colonies in the soil." Galen has been using Heads Up for several years now, after first hearing about it through a small ad in a regional newspaper. Watch below to hear about his journey.

When asked to write about Samuelson Seed, Galen said the following:

"Samuelson Seed is a 4th-generation, family-based company. It started with my grandfather, and I'm now starting to pass the torch to my son, Caleb."

"In the early 1990s, I started working with a company whose focus was on plant and soil health before those benefits were widely known. I've continued to keep plant and soil health the main focus in our farming operation decisions."