The newest Purdue University/CME Group Ag Economy Barometer inched higher during April with the index increasing slightly to 130.
It?s up from the 124 survey index in March but still ranks well below the all-time high of 153 in January.
When the current index is compared to last year, it?s 23 percent higher than the 106 in April of 2016.
The biggest negative in the report is the expectations for future crop prices. 54 percent of the respondents expect soybean prices to remain ?about the same? in 12 months, while 27 percent expect lower prices.
Only 17 percent of respondents expect higher bean prices in the year ahead. Looking to expectations for the December 2017 corn contract price, only 28 percent of respondents thought it would be above $4.25 a bushel.
Expectations are about as low for the November 2017 soybean contract.
The percentage of respondents expecting soybean prices to exceed $10.50 a bushel plummeted from 44 percent in previous surveys down to 23 percent in April.
A quarterly survey of agricultural ?thought leaders? in agribusiness, ag lending, farm organization, as well as economists, saw a 12 percent jump in positive expectations for the ag economy?s health to improve.
