Farmers are expressing concerns regarding agricultural trade, according to the latest Purdue/CME Group Ag Economy Barometer.
The barometer slipped to 135 in March, down five points compared to February, but unchanged from January’s results. The decline was attributed to farmers weakening perceptions of current conditions and a decline in their expectations for the future.
The index surveys 400 producers each month and a figure above 100 is positive, while a figure below 100 is considered negative.
Focusing on trade in March, the survey found nearly 50 percent of farmers included in the survey were concerned a trade war would negatively impact agricultural exports, as seen with the recent China tariffs. Regarding the North American Free Trade Agreement, one-third of farmers surveyed expect the U.S. to exit the agreement, while another one-third of farmers expect the U.S. to remain in NAFTA.
From the National Association of Farm Broadcasting News Service.
Read the full Purdue/CME Group Ag Economy Barometer report for March.