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USDA, FARM BUREAU CHIEF ECONOMISTS DISCUSS SIGNS THAT AG IS IMPROVING
Feb. 26, 2020
Agri-Pulse reports:
Trade, weather, and low interest rates could be driving farmers to feel more favorable toward the farm economy as they head into the 2020 growing season.
USDA's Johansson says producers can expect 2020 weather will be better than in 2019. "How much better? In some areas, we're still expecting to see very wet conditions in the spring but by and large better than last year," Johansson told Agri-Pulse on the sidelines of the National Association of State Departments of Agriculture's Winter Policy Conference.
Johansson also points to low interest rates, which have continued to keep borrowing low as producers have debt but are able to borrow money.
John Newton, the American Farm Bureau Federation's chief economist, says farmers are optimistic about recent trade deals like the "phase one" agreement with China but want proof products are moving. "I travel the country visiting with farmers and I think they are all from the Show-Me state. We're all looking for evidence that this thing's happening," Newton tells Agri-Pulse.
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