As input prices fall, farmers’ concerns shift to commodity prices
For the past year, the top concern, by far, of U.S. farmers polled by Purdue University has been higher input costs. Now, it's a tie between lower commodity prices and higher input costs at 28 percent each, said the monthly Ag Economy Barometer on Tuesday.
More farmers worry about large increases in input costs
More than half of America's big farmers expect prices for inputs such as fertilizer and fuel to soar by more than 12 percent in the coming year, a sign of inflation fears felt across the economy, said a poll released by Purdue University on Tuesday. The latest government report pegged inflation at 6.2 percent, the highest in three decades.
Land prices zoom to record highs in Indiana
Despite the pandemic, farmland values soared to record highs in Indiana, up by as much as 14 percent this year, according to agricultural professionals surveyed by Purdue University. "Surprisingly, many of the current economic forces put upward pressure on farmland prices," said Purdue on Tuesday.
Drones are worth it, say farm users, but few growers plan to buy one
One-third of the farmers and ranchers in a Purdue survey say a drone was used on their farm in the past year and a sizable majority of them, 56 percent, say the aerial robot added value to their operations. In two of three cases, the drones were used by a service provider, rather than the farmer, said Purdue in its monthly Ag Economy Barometer on Tuesday.