Farmer sentiment is on the rise as producers report improved financial conditions on their farms, according to the latest Ag Economy Barometer in October. CME Executive Director of Ag Research Fred Seamon joined us Tuesday on Market Day Report for a breakdown of the group’s latest survey.
In his interview with RFD-TV’s own Suzanne Alexander, Seamon got us up to speed on the latest reading and shared his biggest takeaways; as well as what contributed to the increase, including the Farm Financial Performance Index; producers’ biggest concerns for their operation in the coming year; and what specific, reported long-term changes corn and soybean producers have made to their operations to better cope with extreme weather patterns.
Some of the key takeaways from the October’s Ag Economy Barometer include:
- +4 point rise in the Ag Economy Barometer to a reading of 110 in Oct.
- +6 point rise in the Farm Financial Performance Index since Sept.
- In-tandem rise in farmer sentiment
- 35% of producers in the survey expect farmland values to rise in their area
- 24% implemented changes in their operations to better deal with shifting weather
