Economist says assistance, trade progress could improve farmer sentiment
Purdue University Ag Economist Jim Mintert says there are several things that need to happen for farmer sentiment to continue to rebound.
“What takes place at the federal level with respect to additional support for the ag sector could be a big driver,” he says. “The second one is probably going to be, particular in the corn belt, what happens on the ethanol side in terms of resumption of these plants and also what that means in terms of crop prices.”
Farmer sentiment increased modestly in the latest Purdue University/CME Group Ag Economy Barometer.
Mintert says trade progress will continue to be a driver in sentiment.
“We are heavily dependent on trade and I think people are going to want to see more confidence that trade is going to resume in a more normal fashion- less antagonism in trade, less headlines, and more product moving,” he says. “I think that would make people more optimistic about the future.”
The Ag Economy Barometer rose seven points to 103. A rating above 100 indicates positive sentiment about the ag economy, while a rating below 100 is negative.