The August Purdue University/CME Group Ag Economy Barometer showed an increase in farmer sentiment compared to July. Purdue University Center for Commercial Agriculture Director Jim Mintert said farmers are more optimistic about current economic conditions, but the biggest driver in the August survey is the outlook for future expectations. The index of future expectations improved 33 points from July. Mintert said the improvements are due to a few things including the expectations for decent crop yields, commodity price rallies and additional export sales to China. Mintert is also surprised with some responses to a question focused around virtual meetings. One in five people surveyed attended a virtual meeting this summer. “It will be interesting to see down the road, how many programs will continue to be virtual going forward and the reaction people have to this,” said Mintert.
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