Ag Economy Barometer: Farmers are less optimistic about trade
Farmers are less optimistic that the trade dispute with China will be resolved in a way that benefits US agriculture, according to the latest Purdue University/CME Group Ag Economy Barometer.
Jim Mintert is the director of the Purdue Center for Commercial Agriculture.
“That was pretty interesting given what’s taken place with trade with China recently in terms of the rebounds in exports the last couple of months particularly with corn and soybeans,” he says.
At the beginning of the year 80 percent of farmers surveyed said they expect the trade dispute to benefit US agriculture. In November that number dropped to 50 percent, the lowest percentage recorded since 2019.
“It indicates there is some skepticism about that being resolved in a way that’s long-run beneficial to US agriculture and I think that probably fed into decline in the future expectations,” Mintert says.
The monthly survey of 400 agricultural producers was conducted November 9-13.
Audio: Jim Mintert