A survey of farmers shows optimism is increasing in the Midwest farm country, despite continued low prices.
The latest DTN/The Progressive Farmer Agricultural Confidence Index found increasing optimism, posting an overall score of 113, up 9 points from August and 15 points higher than the “Trump Bump” survey of a year ago. The so-called “Trump Bump” represented an increase in the index following the election of President Trump on the idea of decreased regulation.
Farmers’ attitude about their current situation was twice as positive as November 2016, despite growing concerns from ag lenders and little end in sight to flat commodity prices.
Index levels above 100 are considered optimistic, those less than 100 are viewed as a pessimistic attitude as compared to baseline scores when the index began. For the most recent survey, farmers put their present views at 95, up 19 points from August, and more than twice the score of 44 in November 2016. Their expectation score is 123, up three from August and down four from a year ago, or essentially flat year-on-year.
From the National Association of Farm Broadcasting News Service.