Even after a very tough year in which farm debt has risen, sales have declined and the prices of key exports like soybeans have plummeted, large-scale U.S. farmers remain upbeat on their prospects, a survey shows.
Driving the news: The latest results of the Purdue University and CME Group reading of the agriculture economy showed a slight decline in December, but that was down from an all-time high touched in November.
Methodology: CME and Purdue surveyed 400 farmers whose farms have a market value upwards of $500,000 on a series of five questions.
- A reading of 100 indicates that sentiment is neither improving nor worsening from a baseline set between late 2015 and early 2016. Higher readings indicate respondents are more positive, while readings below 100 indicate more negative sentiment.