Ag producers are slightly less optimistic about current conditions, according to the latest Purdue University/CME Group Ag Economy Barometer.
Jim Mintert is the director of the Purdue Center for Commercial Agriculture.
“There was a six-point decline in the index of current conditions, and I think a chunk of that was related to the fact that prices have softened relative to where they were earlier in the spring,” he says. “And, even though those prices are still elevated from a longer-term perspective, when you think about it from sentiment, you have a tendency to compare back to where prices were just a few months ago and so I think, from a sentiment standpoint, that explains softness we’re seeing there.”
After a two-month decline, the overall Ag Economy Barometer held steady at a reading of 134.
