Producer Sentiment Reaches a Four-Year High in May

Farmer sentiment improved for the second consecutive month in May, reaching its highest level since May 2021. A key factor contributing to this month’s climb could be linked to a more positive view of the U.S.’s long-run agricultural trade prospects. In May, 52% of producers said they expect agricultural exports to increase over the next five years, surging from 33% in April and the highest percentage of positive responses to this question since November 2020. Meanwhile, 12% of producers said they believe exports will decline, down from 24% the previous month. Read more here.