According to the latest Purdue/CME Group Ag Economy Barometer, U.S. farmer sentiment dropped to its lowest level since October 2016. The barometer reads 101, a decline of 14 points from April. The decline is due to a few things, including a worsening of producer’s perspectives on the current and future economic conditions. Agricultural trade continues to be a source of concern for producers. Twenty percent of farmers surveyed expect the soybean trade dispute with China to be resolved by July 1. That’s an eight percent decline from the April survey. Sixty-five percent of farmers surveyed expect a favorable outcome for the U.S., a decline from 71 percent in April. Read more about the May Ag Economy Barometer.
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