Farmers still positive on expansions and farmland values

The latest Purdue University/CME Group Ag Economy Barometer indicates building spikes have started to weaken.

Jim Mintert, director of the Purdue Center for Commercial Agriculture, tells Brownfield a modest increase was seen in the number of farmers who said they plan to increase farm building and grain bin purchases.

“That could be reflective of that construction side starting to loosen up a little bit, lumber prices, in particular, have come down significantly,” he says.

Farmland values are also expected to stay positive.

“The long-term farmland value expectation index set a record this month,” he says.

Mintert says over the next 12 months, farmers also expect farmland values to increase.

Farmer sentiment overall for September was down and Mintert says a new low was set for expectations for ag exports to increase in the next five years.

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