WEST LAFAYETTE, Ind. and CHICAGO – Economists from Purdue University’s Center for Commercial Agriculture and CME Group will present an agricultural outlook session ahead of the 2017 growing season at the Commodity Classic in San Antonio, Texas.

The session, titled “The Ag Economy Barometer: A Look at Factors Impacting Producer Sentiment Headed into 2017,” is March 2, from 10:15 to 11:45 a.m. The session will focus on the factors impacting producer sentiment as the growing season approaches. Panelists are Michael Boehlje, Purdue distinguished professor of agricultural economics; Jason Henderson, director of Purdue Extension and associate dean of Purdue Agriculture; Fred Seamon, CME Group executive director of commodity research and product development; James Mintert, director of Purdue’s Center for Commercial Agriculture; and David Widmar, Purdue senior research associate. They will share key economic and financial insights that producers can use when preparing for the 2017 growing season.

“For the second consecutive year, corn, soybean and wheat farmers planted their 2016 crops knowing that economic losses were all but certain,” Mintert said. “Producers relied on financial reserves to maintain their operations as they waited for conditions to improve. Although crop production costs are declining, producers will need to examine every aspect of their operations as they strive to lower their costs per bushel and restore profitability on their farms.”

Since September, the Ag Economy Barometer, which is based on a monthly survey of 400 U.S. agricultural producers, has shown producer sentiment ranging from its second-lowest reading of 92, to an all-time high reading of 132 in December. The panel will discuss some of the drivers of producer economic sentiment, key factors that could influence the 2017 outlook and management strategies producers should consider.

Session information is available in the Commodity Classic Guidebook app: https://guidebook.com/guide/81731/event/14719150/.

Follow monthly Ag Economy Barometer readings and reports at http://purdue.edu/AgBarometer. The barometer and its two major components—the Index of Current Conditions and Index of Future Expectations—can also be found on the Bloomberg Terminal under the following ticker symbols: AGECBARO, AGECCURC and AGECFTEX. 

About the Purdue University Center for Commercial Agriculture

The Center for Commercial Agriculture was founded in 2011 to provide professional development and educational programs for farmers. Housed within Purdue University's Department of Agricultural Economics, the center’s faculty and staff develop and execute research and educational programs that address the different needs of managing in today’s business environment. 

About CME Group

As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. CME Group also operates one of the world’s leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group’s products and services ensure that businesses around the world can effectively manage risk and achieve growth.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com. 

Writer: Jennifer Stewart-Burton, 765-496-6032, jsstewar@purdue.edu 

Sources: Jim Mintert, 765-494-4310, jmintert@purdue.edu

David Widmar, 765-494-0848, dwidmar@purdue.edu

Chris Grams, 312-930-3435, chris.grams@cmegroup.com 

Related website:

Purdue University Center for Commercial Agriculture

CME Group

Agricultural Communications: (765) 494-8415;
 
Darrin Pack, dpack@purdue.edu 

Agriculture News Page