Farmer ag sentiment better in November
The latest number from Purdue, CME Group is second highest for 2019.
The Ag Economy Barometer rose in November for the second month in a row, climbing to 153, 17 points higher than in October when the index stood at 136. This month’s rise in the ag economy sentiment index left the barometer tied with July for the highest barometer reading of 2019. Once again, the rise in the barometer was driven by improvements in farmers’ perceptions of both current economic conditions and their belief that conditions will improve in the future, with the biggest boost coming from improved perceptions of current conditions.
Farmers improved sentiment regarding the ag economy was also evident in that they were more favorably disposed towards making large investments in their farming operation and they were more optimistic about farmland values. When queried about climate change, a large majority of U.S. producers (78 percent) indicated that they were either “not worried at all” or “not too worried” about climate change and 77 percent of respondents said they had made no changes to their farming operation in response to climate change.