The November Purdue University/CME Group Ag Economy Barometer survey results show a decline of 16 points from the October survey. That’s mostly due to the Index of Future Expectations. Following the November election, farmers have a more pessimistic view on the future of the agricultural economy. This this the opposite of what happened following the November 2016 election. “Following the 2016 election, the barometer rose significantly. The driver behind the improvement was producers became more optimistic about the future,” said Jim Mintert, director, Purdue University Center for Commercial Agriculture. “We asked several questions this year to gauge changes on farmer sentiment.” The farmers surveyed expect to see environmental regulations tighten for agriculture, higher income tax rates and less government support for the ethanol industry. At the same time, the ongoing rally in the commodity prices and CFAP-2 payments support a producer’s views of the current economic conditions. Read the barometer.
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