Purdue, CME to Take Monthly ‘barometer’ of Confidence

Purdue University's Center for Commercial Agriculture and the derivatives marketplace CME Group are partnering to produce the Purdue/CME Group Ag Economy Barometer, a monthly nationwide measure of the health of the U.S. agricultural economy.

The introduction of this new economic indicator underscores the importance of the agricultural economy and its participants – food producers and agribusinesses – to the overall U.S. and global economies.

April survey results

The agricultural sentiment of U.S. producers increased to 106 in April 2016, which was an improvement in producer sentiment compared to the base period of October 2015 through March 2016.

The increase was driven in part by strengthening corn, soybean and wheat prices. After months of trending lower, and a sharp drop in corn prices following the USDA's March Prospective Plantings report, crop prices moved up during April. In addition, general weather conditions across the Plains and Midwest were favorable for crop development and planting and likely contributed to the improved sentiment.  S