ag barometer

Farmers are more optimistic about their future following the U.S. November election results, according to the latest Purdue University Ag Economy Barometer.

Nineteen percent of those surveyed say they have had discussions with solar developers in the last six months, up from 12 percent in March.

The January barometer fell to a reading of 106, 8 points lower than in December. Producers expressed a more pessimistic perspective about their farms’ current situation and future prospects.

Seventy percent of farmers surveyed expected inflation rate for consumer items to be four percent or lower in 2024.

The Ag Economy Barometer index rose five points with fewer producers expecting worse performance in their farms than a year ago.

The three main factors driving sentiment in July were input costs, interest rates, and commodity price volatility.

Delivery bids for corn fell 10 percent in the last few months, while wheat and soybean bids fell 8 percent.