Farmer sentiment in the latest Purdue Ag Economy Barometer increased slightly last month to continue the upward trend following a series of trade deals with China, Canada, and Mexico.
The deals are favorable to certain groups of US farmers and were expected to increase market prices for a number of agriculture products.
However, recent uncertainty over how an increased number of COVID-19 cases will impact ag exports is not included in the survey as it was taken prior to the increased response to the virus in the United States.
Professor of Agriculture at Purdue University James Mintert says he’s hesitant to speculate on the potential impact.
“It’s been difficult to move that product overseas," he says. "Uncertainty on behalf of the buyers so that’s a bottle neck and creating some negative spillover impacts on prices.”
Another barometer will be released next month.
