Ag Barometer Down and Trump Support

Ag Barometer Down and Trump Support

Bob Larson
Bob Larson
From the Ag Information Network, I'm Bob Larson with your Agribusiness Update.

**The latest Purdue University Ag Economy Barometer shows farmer concern about the ag economy with sentiment falling sharply in July.

Perdue's James Mintert tells, the Barometer declined 26 points to a reading of 117, driven by sharp reductions in both the Index of Current Conditions, which fell from 138 to 99, and the Index of Future Expectations, which fell from 146 to 126."

July decline is the largest one-month decline in the Barometer's three-year history, but well above the low of 92 observed before the 2016 presidential election.

**Despite the pain farmers are feeling from the current trade disputes, most still support President Trump.

According to CNBC survey of 19 farm states, 10 states saw the president's approval ratings improve May 1 through July 31. His approval stayed the same in 7 states and declined in Idaho. reports, soybean and cattle farmer Eric Nelson told CNBC he believes President Trump is doing the right thing by trying to negotiate better trade deals.

**Potato producer, J.R. Simplot struck a deal with developers of a specific gene editing technology that will allow them to precisely edit the genomes of crops for longer shelf life, drought resistance, and aesthetic changes. reports, the technology is a form of CRISPR, which is a technology that allows gene editing.

Interestingly, a few months ago, the USDA announced it would not be regulating CRISPR-edited organisms the same way it does for other GMOs.

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