A video featuring Michael Langemeier, a professor of agricultural economics at Purdue University, has been uploaded to the AP Video Hub.
In the video, he explains what the Ag Economy Barometer is and what it means for the agricultural industry. This video can be found at https://bit.ly/3SBqJCy.
Langemeier says that the Purdue/CME Agricultural Barometer measures farmer sentiment about current and future trends in the agricultural sector. He says that while farmer sentiment rose six points in July, the index is down considerably from last July and also down from January.
Tight supply, strong demand, the war in Ukraine, inflation and droughts in the United States are contributing to a volatile market.
These factors make it difficult for producers in the agricultural industry to make informed decisions and has led to significant uncertainty.
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