Rooted in Hope: The Unshakable Optimism of Farmers

This Week in Ag #106

Farmers are eternal optimists. They have to be. Their entire existence is based on the hope that the seeds they sow in the spring will bear fruit come fall. Last month, farmer sentiment rose another 11 points, based on the Purdue Ag Economy Barometer. It’s now about as high as it’s been in a decade (save for 2020-21, when commodity prices hit record highs). We’re now experiencing the steepest rise in optimism ever, as sentiment has soared 64 points since last fall. Both indices of current and future expectations rose, as future expectations continue to outpace current expectations. But how can that be? Many of the same challenges still existed since last fall. And nearly half of farmers feel the US is at risk of a “trade war” that will decrease exports. Sure, corn prices had experienced a nice rally since the fall (which has since slowed down), and anticipated government programs will help ease some recent pain. But perhaps the reason for this surge in optimism lies in the moral and spiritual make-up of those who tend the land. You see, farmers are people too. And by and large, very good people. Patriotic. Spiritual. Morally driven. They look beyond their selfish interest. Farmers are 50% more likely to have served in the US military. Just look at the make-up of school boards, church organizations, and other civic organizations. You’ll see many farmers represented, far more than the 1% of the population they represent. During Brooke Rollins’ recent speech at Commodity Classic, the loudest applause came from her plans to abolish the death tax, making it easier for farmers to pass down their farms to future generations. That’s hardly a selfish mindset. Speaking of Commodity Classic, the nation’s largest farmer-led event set another attendance record, as over 11,500 visitors ascended upon the Mile High City. During my many conversations with farmers at the show, I did not sense gloom and doom but a renewed sense of optimism over the past year and a hopeful future, consistent with that from the Purdue study. Farmers are seeking new ways to improve their operations. In many cases, they are looking at the soil to achieve it. This optimism should receive a further lift based on the recent news that fertilizer would be exempt from trade tariffs. And kudos to our friends at The Fertilizer Industry for working so hard to help make this a reality.