Ag Economy Barometer Shows Farmers Are More Optimistic About the Future

The latest Ag Economy Barometer shows farmer sentiments remain strong. The April Barometer reading climbed one point to 178, which is just five points below it’s all-time high set back in October.

The latest Purdue University, CME Group Ag Economy Barometer shows farmer sentiments remain strong. The April Barometer reading climbed one point to 178, which is just five points below it’s all-time high set back in October.

“There was a change in attitudes as farmers were a little less optimistic about current conditions,” says Jim Mintert, a Purdue University economist and author of the Barometer. “The index of current conditions actually fell seven points to a reading of 195. While they became more optimistic about the future, with the index of future expectations rising to a reading of 169. That was five points higher than a month earlier when the reading was just 164.”

Several tax policies are also under consideration by the Biden administration and Congress. The survey asked about possible tax changes, with nearly 9 out of 10 farmers saying they expect capital gains rates to rise over the next five years. Three-quarters of producers...saying the are “very concerned” about the possible elimination of the step-up in basis for farmland thats part of .inherited estates.

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