Purdue, CME Group To Host Commodity Classic Session On Sentiment Toward U.S. Ag Economy

Economists from Purdue University’s Center for Commercial Agriculture and CME Group will present an agricultural outlook session ahead of the 2017 growing season at the Commodity Classic in San Antonio, Texas.

The session, titled “The Ag Economy Barometer: A Look at Factors Impacting Producer Sentiment Headed into 2017,” is March 2, from 10:15 to 11:45 a.m. The session will focus on the factors impacting producer sentiment as the growing season approaches. Panelists are Michael Boehlje, Purdue distinguished professor of agricultural economics; Jason Henderson, director of Purdue Extension and associate dean of Purdue Agriculture; Fred Seamon, CME Group executive director of commodity research and product development; James Mintert, director of Purdue’s Center for Commercial Agriculture; and David Widmar, Purdue senior research associate. They will share key economic and financial insights that producers can use when preparing for the 2017 growing season.

“For the second consecutive year, corn, soybean and wheat farmers planted their 2016 crops knowing that economic losses were all but certain,” Mintert said. “Producers relied on financial reserves to maintain their operations as they waited for conditions to improve. Although crop production costs are declining, producers will need to examine every aspect of their operations as they strive to lower their costs per bushel and restore profitability on their farms.”

Since September, the Ag Economy Barometer, which is based on a monthly survey of 400 U.S. agricultural producers, has shown producer sentiment ranging from its second-lowest reading of 92, to an all-time high reading of 132 in December. The panel will discuss some of the drivers of producer economic sentiment, key factors that could influence the 2017 outlook and management strategies producers should consider.

Session information is available in the Commodity Classic Guidebook app: https://guidebook.com/guide/81731/event/14719150/.

Follow monthly Ag Economy Barometer readings and reports at http://purdue.edu/AgBarometer. The barometer and its two major components—the Index of Current Conditions and Index of Future Expectations—can also be found on the Bloomberg Terminal under the following ticker symbols: AGECBARO, AGECCURC and AGECFTEX.