U.S. Farmer Optimism Rises on Harvest, Profits, DTN Survey Shows
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U.S. farmers are more optimistic about their current and future economic situation than they were in September after profitable harvests, according to a survey-based index produced by DTN/The Progressive Farmer.
Farmers rated their confidence in the agricultural economy with an index score of 109.8, compared with 107.7 in September, the agricultural news service said today in a report. The benchmark of 100 is based on sentiment in April 2010, when the survey was inaugurated. Higher confidence may make farmers more likely to boost purchases of Monsanto Co. seeds or Agrium Inc. fertilizers, said Greg Horstmeier, editor-in-chief of DTN, a unit of Madrid-based Telvent GIT SA.