Farmers are becoming more positive regarding their current situations, and the future.
The DTN/The Progressive Farmer Agriculture Confidence Index finds farmers are increasingly indicating a positive outlook. The index reached its third highest level ever recorded in its latest survey, reaching 134.8, up almost 22 points from the December/January level and slightly above the overall level of spring 2017.
The index, created in 2010, surveys farmers three times a year to determine their opinions about their current economic situation and about that situation in the year to come. Index levels above 100 are considered optimistic, those less than 100 are viewed as a pessimistic attitude.
The findings seem rather opposite of conventional wisdom, as DTN points out the optimism comes as farmers continue dealing with lower commodity prices, large crop estimates, and trade worries.