Farmers less optimistic about US-China trade despite increases in exports
Farmers continue to be less optimistic that the US-China trade dispute will be resolved in a way that benefits US agriculture, according to the latest Purdue University/CME Group Ag Economy Barometer.
Purdue University’s Jim Mintert says that is a little surprising because of the rise in exports and improved crop prices.
“But I think it speaks to people’s longer-term perspective,” he says. “Even though in the short run commodity prices are benefiting from increased trade with China, people are concerned about where this is headed from a longer-run perspective and suggests they have some reservations about where this is headed down the road.”
Forty-seven percent of farmers surveyed said they believe the trade dispute’s ultimate resolution would benefit US agriculture.
Farmers also became less optimistic about US agriculture’s trade prospects with about 50 percent of respondents expecting to see growth in US ag exports over the next five years.