Farmer sentiment fell in March, reflecting concern about commodity markets and trade policy, according to the monthly Purdue University-CME Group Ag Economy Barometer.
The measure, based on a survey of farmers conducted March 10-14, fell 12 points to 140 in March. An index of farmers’ future expectations fell 15 points to 144. The index of current conditions dropped five points to 132.
“Falloffs in key crop prices since mid-February, combined with concerns about the future of agricultural trade and farm policy, were important factors behind the sentiment shift,” according to a summary of the barometer.
The survey also indicates that concern about President Donald Trump’s trade policy is growing. Some 43% of farmers surveyed said trade is the most important policy or program affecting their farms. Prior to the November election, farmers said that interest rates were a bigger concern than trade policy.
For more news, go to Agri-Pulse.com.
