The Ag Economy Barometer rose in March to 177, the highest reading for the barometer since the record high reading of 184 in October.
Organizers say this month’s 12-point rise in the barometer was attributable almost entirely to ag producers’ more optimistic view of the future.
Strong ag commodity prices and improved farm financial conditions continue to support the Ag Economy Barometer readings as heading into planting season.
The improvement in future expectations occurred even though producers are becoming increasingly pessimistic that the trade dispute with China will be resolved in a way that’s beneficial to U.S. agriculture.
Producers continue to be relatively optimistic about making capital investments and became more optimistic about farmland values.