US Farm Sentiment Falls to 2016 Low on Income, Election Worries
(Bloomberg) -- American farmer sentiment plummeted to the lowest level in eight years on declining agricultural income and concerns over potential policy changes following the US presidential election.
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Purdue University and CME Group’s Ag Economy Barometer for September dropped to a reading of 88, the worst since March 2016, just before Donald Trump took over as president. The index is based on a survey of 400 farm producers who were polled Sept. 9-13 — a period that coincided with Trump’s debate with Vice President Kamala Harris.
“Farmers are concerned about commodity prices, input costs, the future of agricultural trade and how the upcoming election could affect their farm operations,” wrote survey authors Michael Langemeier and James Mintert. Some 78% of producers were concerned about post-election policies that could affect their farms, they said.
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