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Ag Economy Barometer remains strong; producers concerned about possible changes in estate tax policy
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WEST LAFAYETTE, Ind. and CHICAGO, May 4, 2021 /PRNewswire/ The Purdue University/CME Group Ag Economy Barometer was virtually unchanged in April, up one point from March to a reading of 178. Producers are becoming more optimistic about the future. The
Index of Future Expectations continued its upward trend from last month, up 5 points to a reading of 169. However, their views on current conditions slipped. The
Index of Current Conditions dropped 7 points in April, to a reading of 195. The
Strong Commodity Prices And Improved Financial Conditions Boost Purdue University/CME Group Ag Economy Barometer Date
The
Purdue University/CME Group Ag Economy Barometer rose 12 points in March to a reading of 177, marking the highest reading for the barometer since
October 2020. The rise was attributed to producers more optimistic view of the future. The
Index of Future Expectations snapped a four-month decline, rising 16 points to a reading of 164 in March. The
Index of Current Conditions tied with its previous all-time high, rising two points to a reading of 202. The
Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers responses to a telephone survey. This month s survey was conducted from
Apr 06, 2021
Agriculture producers have a more optimistic view of the future, according to the latest Purdue University/CME Group Ag Economy Barometer, which rose 12 points in March to a reading of 177. This was the highest reading for the barometer since October 2020. The barometer is calculated each month from 400 U.S. agricultural producers responses to a telephone survey.
Purdue University/ CME Group
The Index of Future Expectations snapped a four-month decline, rising 16 points to a reading of 164 in March. The Index of Current Conditions tied with its previous all-time high, rising two points to a reading of 202. Even with a rebound in crop production in 2021, it looks like carryover supplies of corn and soybeans will remain tight, providing producers confidence that crop prices will remain strong this year, said James Mintert, the barometer s principal investigator and director of Purdue University s Center for Commercial Agriculture. A rebound in the U.S. economy thi
Producer perspective on farm financial position continues to improve, which appears to be fueling some of the short-term optimism about farmland values and capital investments. The Farm Financial Performance Index is based on responses to a question that asks producers, âAs of today, do you expect your farmâs financial performance to be better than, worse than or about the same as last year?â
The question was first posed in April 2018 and asked again in spring 2019. Since late 2019 the question has been posed more regularly. The index bottomed out in April 2020, at a reading of 55. It then started to climb during the summer, reaching a December reading of 116. Since December the index has increased each month. In March it hit a record of 125, an increase from 121 a month earlier and from 117 in December.