This week Purdue University and CME Group released the October Ag Barometer, which was up 22 points from September. Not only was producer sentiment up across the board, but soybean farmers remain optimistic about better prices in 2019 reports AgPro.
"We asked, ‘What are your expectations for soybean prices 12 months from now?’” Jim Mintert, Purdue University ag economist, explained to AgriTalk host Chip Flory. “And, roughly half said they thought prices a year from now [would] be about the same as they are now."
According to Mintert, the USMCA and optimism around other free trade agreements is influencing producers’ abilities to remain optimistic about the future.
Soybean producers included in the survey don’t intend to change their crop rotations for 2019.
Read the full report here.
