By Ryan Hanrahan
Bloomberg’s Michael Hirtzer, Erin Ailworth, and Skylar Woodhouse reported Tuesday that “American farmer sentiment jumped to a four-year high, with growers betting on rising crop exports as the Trump administration pushes for more trade deals from Vietnam to Italy.”
“US President Donald Trump has pushed an America-first agenda that has hit crop exports. Top commodities buyer China currently has no sales on the books for US corn, soybeans or wheat to be shipped next season,” Hirtzer, Ailworth and Woodhouse reported. “Still, farmers are more optimistic, according to Purdue University and CME Group’s Ag Economy Barometer, which surveyed some 400 producers between May 12-16, just after the Trump administration announced ‘substantial progress’ toward a trade deal with China. The index hit a reading of 158, the highest since 2021.”
“A ‘skyrocketing’ number of farmers expect increased agricultural exports over the next five years, according to the survey. However, only 28% strongly agree that ‘free trade benefits agriculture and most other American industries’ — down from 49% of farmers who agreed with the statement when it was first posed back in November 2020,” Hirtzer, Ailworth and Woodhouse reported. “The results ‘provide additional evidence that producers’ views on trade have shifted,’ according to the barometer.”
Source : illinois.edu