""These findings point to a once-in-a-generation problem for the agricultural economy," said NCGA Chief Economist Krista Swanson said in a statement. "The survey findings suggest that this crisis could have a long reach, affecting every area of the economy, as farmers are less likely to make purchases and will certainly make budget cuts that could affect their local communities.""
"A survey released by the National Corn Growers Association (NCGA) on Wednesday showed that 46% believe the U.S. is on the brink of a farm crisis, and another 33% said maybe."
"The bleak survey results mirrored similarly downbeat readings in the Purdue University-CME Group Ag Economy Barometer Index, which fell 10 points in August to 125. A subindex on expectations for the future dropped 16 points to 123, the lowest since last September."
The 40th Farm Aid benefit concert occurs Saturday amid the gloomiest economic outlook for rural America in decades. A National Corn Growers Association survey found 46% believe the U.S. is on the brink of a farm crisis and 33% responded maybe. About two-thirds of respondents reported greater financial concern than a year ago; 58% are postponing equipment purchases, 38% are reducing fertilizer applications, and 22% are seeking more off‑farm income. The Purdue University-CME Group Ag Economy Barometer fell 10 points to 125, with future expectations down to 123. Crop prices have plunged from 2022 peaks while production costs remain near record highs. Export demand has weakened amid the trade war, with soybeans especially affected.
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