After a sharp drop in March and April, farmer sentiment in May improved slightly.
The Purdue University/CME Group Ag Economy Barometer rose to 103, seven points higher than April.
However, the index remained almost 40 points below its all-time high of 168 that was set in February of this year.
The people behind this month’s barometer say the survey was conducted the same week that USDA announced the details of the Coronavirus Food Assistance Program, so the program details could be one of the key reasons for this month’s improvement in the barometer.
The Index of Current Conditions climbed 11 points higher from April to May, coming in at 83.
The Index of Future Expectations rose four points to a reading of 112.
A reading of above 100 is considered positive.
