Shifting interest rate expectations boost farmer sentiment

U.S. farmers’ outlook improved in March as the Purdue University/CME Group Ag Economy Barometer index increased to 114, three points higher than in February. While the Index of Current Conditions fell by two points to 101, the Index of Future Expectations climbed to 120, up by five points compared to February. The disparity between current and future indexes was primarily attributable to farmers’ perceptions that a financial downturn took place over the past year, coupled with expectations for some improvement over the next 12 months. The March survey was conducted from March 11-15,…