(NAFB) Farmer sentiment saw an unexpected surge in October ahead of the U.S. election, according to the latest Purdue University/CME Group Ag Economy Barometer. The index rose to 115, marking a 27-point increase from September. This boost in sentiment was primarily driven by a rise in producers’ confidence in the future, so says Purdue ag economist Jim Mintert.
Farmers are also more confident in the value of farmland this month than last. The October result showed that 15 percent more of those surveyed believed the price of farmland would continue to rise.
The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy released on the first Tuesday of each month. The index is based on a survey of 400 agricultural producers.
