Sentiment among farmers has dipped but remains at near record levels, according to a new report. The Purdue/CME Group Ag Economy Barometer is now at 134, falling 19 points since hitting a record high in January after three consecutive months of gains.
Purdue University Center for Commercial Agriculture Director James Mintert, who is also principal investigator of the barometer says "the concern producers expressed about current economic conditions is consistent with other measures of conditions in the farm economy. For example, during the recent annual Agricultural Outlook Forum, USDA projected net farm income in 2017 will fall to $62 billion, a 9 percent decrease from 2016 and a 50 percent drop from the peak net farm income set in 2013."
The report includes results from surveys on current conditions, future expectations, farmland values, agricultural exports and the price of soybeans versus corn.
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