Trade war concerns are negatively impacting producer sentiment toward the agricultural economy, according to Purdue University.
The Purdue University/CME Group Ag Economy Barometer reading for April of 125 was 10 points lower than March, and 15 points below the February reading, according to a news release. The barometer is based on a monthly survey of 400 agricultural producers from across the country.
Producers’ weakening perceptions of current conditions in the production agriculture sector, and a decline in their expectations for future economic conditions, were the main drivers of the barometer’s overall decline, said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture.
The trade dispute with China remains an area of concern because of the possible impact on U.S. soybean exports, 30 percent of which go to China, the news release said.
