Farmers expect trade to continue to be an issue in 2020. That's according to the latest Ag Economy Barometer from Purdue University and the CME Group.
According to its August survey of 400 producers, 58% of those asked expect another Market Facilitation Program payment for the 2020 crop year.
That longer-term view of the trade war with China also pushed August sentiments lower. The Ag Economy Barometer dropped to 124 from its July high of 153.
The survey indicates a less positive outlook, due in part to crop and livestock prices declining, a larger than expected crop production estimate, and improving overall growing conditions.
Purdue University Economist Jim Mintert said, "71% of the farmers in our August survey said that the 2019 M.F.P. program payments relieve their concerns about farm income in 2019. However, 29% of the producers in our survey said that they were not at all relieved by the fact that they were receiving M.F.P. program payments."
Still, surveyors found 72% of farmers polled said they expected the trade dispute to be resolved in a way that favors U.S. agriculture.