U.S. ag barometer is up

It is at a new high

(Postmedia Network)

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The Ag Economy Barometer rose slightly compared to a month earlier, with a reading of 168 in February, just one point higher than in January.

The one point rise in the sentiment index was enough to push the barometer to a new all-time high, eclipsing the previous record set in January of this year.

The barometer’s strength was underpinned by an improvement in producer’s perceptions of current conditions, which offset a small decline in expectations for the future.

The Current Conditions Index set a new record high in February with a reading of 154, up 12 points from January. Expectations for the future remained strong from a historical perspective, although the Index of Future Expectations reading of 175 represented a 4 point decline from its record high set in January.

The Ag Economy Barometer is generated each month from 400 U.S. agricultural producers’ survey responses. This month’s survey was conducted from February 10-14, 2020.

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