Farmer sentiment improved slightly in January as corn and soybean prices turned upward, according to the latest Purdue University-CME Group Ag Economy Barometer.
The monthly survey’s main index of farmer sentiment, conducted Jan. 13-17, rose 5 points to a reading of 141.
The survey’s index of current conditions rose 9 points and the index of future expectations was up 3 points.
It’s easy to be “in the know” about what’s happening in Washington, D.C. Sign up for a FREE month of Agri-Pulse news! Simply click here
“Compared to recent surveys, fewer producers this month pointed to lower crop and livestock prices as a top concern, which helped explain why producers felt better about the current situation,” the survey report says. “The shift in attitudes was attributable in part to an improvement in crop prices from the time of the December to the January survey.”
The report said farmers “remain markedly more optimistic about the future than the current situation, noting that the index of future expectations is 47 points above the measure of current conditions.
For more news, go to Agri-Pulse.com.