Despite market volatility, Purdue University Center for Commercial Agriculture Director Dr. James Mintert says farmers remain cautiously optimistic. The July CME Group/Purdue University Ag Economy Barometer reading increased slightly. “I’m surprised we maintained as much optimism as we did, I thought people might be a little more negative based on market declines we saw.” The timing of the survey may have also impacted the barometer reading. The survey was done before the Federal Reserve’s latest announcement to increase interest rates. Roughly two-thirds of those surveyed expect interest rates to increase even more over the next year. Listen to the full interview with Dr. James Mintert here.
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