Farmer sentiment strengthened in November as rising crop prices and improved export prospects pushed the Purdue University/CME Group’s Ag Economy Barometer to 139, the highest level since June.
Much of the increase was driven by a sharp 15-point jump in future expectations, even as current conditions held steady.
However, producers remain cautious as capital investment slipped further, and fewer farmers say today is a good time to expand.
The survey also showed shifting crop production strategies as growers respond to projected tight operating margins, including lower-cost seed traits, reduced phosphorus applications, and adjustments to seeding and nitrogen rates.
