The October Ag Economy Barometer improved to a reading of 136 in October, up 15 points compared to September. The monthly measure of the farm economy saw an increase in the assessment of current and future conditions by farmers.
The Current Conditions Index rose from 100 in September to 115 in October, and the Futures Expectations Index also rose 15 points to a reading of 146. The results are based upon a nationwide telephone survey of 400 U.S. crop and livestock producers. Organizers say farmers in October were more inclined to think now is a good time to make large investments in their farming operations, and more farmers said they expect farmland values to rise, than in September.
Although three-fourths of farmers in this month’s survey said they expect the soybean trade dispute with China to be resolved favorably to U.S. agriculture, 62 percent of producers said they expect to receive another round of trade aid payments for the 2020 crop year.