US farmer concern about American trade policy has spiked amid souring expectations for agricultural exports.
According to the latest Purdue/CME Group Ag Economy Barometer - which is based on a monthly survey of 400 producers across the US – farmer concern about trade policy has ‘skyrocketed’ since the November presidential election, with 43% of respondents, on average, now citing it as the most important policy or program affecting their farm. Prior to the election, farmers generally expressed more concerned about interest rate policy than trade policy
Meanwhile, the March edition of the ag economy barometer also showed that 30% of respondents expect to see a decline in ag exports over the next five years, nearly matching the percentage of farmers (33%) who said they believe exports will rise.
Historically, exports have been an important source of demand for US agricultural production, and strong exports have often been associated with strong farm incomes. In 2019 and 2020, producers were optimistic that exports would grow over the upcoming five years, but that optimism began to erode in 2021 and has continued to fall since that time.
Click here to see more...