Farmer sentiment has improved in back-to-back months, according to the Purdue University-CME Group Ag Economy Barometer.
Jim Mintert with the Purdue Center for Commercial Agriculture says the Current Conditions Index rose significantly from year-ago levels. “People felt quite a bit better partly because of the strong yields,” he says. “In turn, that improved their farm financial situation better than what they thought it would be, even though commodity prices have not rallied and they’ve been relatively weak.”
He tells Brownfield the Index of Future Expectations only improved marginally, and that’s likely due to the continued elevated cost of production.