The Purdue University/CME Group Ag Economy Barometer set an all-time high in October, fueled by the optimism of the future and current financial situation for farms. An early fall rally in commodity prices combined with government payments and decent yields at harvest set the stage for improvement. Purdue University Center for Commercial Agriculture Director Jim Mintert says the farm income picture changed dramatically since late spring. “The change sentiment really reflects that.” Twenty-five percent of survey respondents said their farm is better off financially now than the same time last year. Government payments are a larger part of farm income. “The percentage of farm income coming from government programs isn’t a record, but it’s certainly the highest its been in some time,” said Mintert. “If we have a change in the administration, what does that mean for farmer sentiment? The November survey will include some repeat questions to measure that.”
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