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 Feb. 28, 2011 Source: DTN/The Progressive Farmer As the 2011 farm season kicks off, outlook among American agribusinesses has dipped slightly since farmers and ranchers were last surveyed in November, according to the latest DTN/The Progressive Farmer Agribusiness Confidence Index. The agribusiness index now stands at 113.2, down from the last survey in November, which came in at 120. Both scores, however, are a significant increase from the initial survey in August, which was set at 100 to serve as the baseline for future reference. The Present Situation Index, which reflects current sentiment regarding sales to farmers and ranchers and current profitability, is 109.6, or 9.6 points above that August baseline. The Expectations Index, which measures sentiment on business activity 12 months from now, is 116. The beginning of the year DTN/The Progressive Farmer Agribusiness Confidence Index is still very positive at 113. Rising corn and soybean prices and weather that favored a quick harvest meant farmers had the cash to spend and the opportunity to complete fall field work, such as anhydrous applications, unlike a year ago when there were delays in many parts of the country. Results A full explanation and breakdown of the results can be found at www.AgricultureConfidenceIndex.com. You can view the results broken down by region, production type or by topic (i.e. input prices, farm income, etc). Additionally, you can compare the end-of-year results with the pre-harvest Index. Agribusiness Confidence Index The agribusiness index is a companion to the DTN/The Progressive Farmer Agriculture Confidence Index, which was launched last April. Both indexes are published three times a year, before planting, before harvest and at year's end. Be on the look out for the next update of the DTN/Progressive Farmer Agriculture Confidence Index, which will be released March 21. For additional information regarding the index, its methodology or other convenient resources, and to view previous Index results please visit www.AgricultureConfidenceIndex.com. Tweet |
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