Ag Economy Barometer Drops in August

This CME Group-Purdue University Ag Economy Barometer shows signs of weakening farmer sentiment for the second month in a row. Purdue University Extension Economist Jim Mintert said part of this month’s survey also addressed the budget reconciliation bill. “That bill has embedded within it some farm policy information or regulations, specifically in the crop sector, it raises the PLC and ARC prices for crop producers so we’re trying to get a feel for what producers were thinking about with respect to the farm bill components of that bill.” The ag barometer has also asked every month if farmers think ag exports are more likely to increase, decrease, or remain about the same over the next five years. “People are definitely more optimistic about ag exports this summer than they were just a few months ago.”