The May Purdue University/CME Group Ag Economy Barometer shows a decline. At a reading of 158, this is the lowest the barometer has been since September 2020. Farmers are less optimistic about the current conditions and the future of the ag economy. Purdue University Center for Commercial Agriculture Director Jim Mintert says part of that is due to the uncertainty surrounding federal tax policy. “More than 80 percent of those who completed the survey said they expect capital gains taxes to rise in the next few years. More than 70 percent are very concerned about the loss of stepped up basis,” said Mintert. “What all that’s doing is contributing to uncertainty. The other aspect is the difference between good times and bad in crop and livestock sectors.”
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