Ag Economy Barometer Down and Global Hunger Growing

Bob Larson

From the Ag Information Network, I am Bob Larson and your Agribusiness Update.

** Purdue University / CME Group Ag Economy Barometer continued to decline in June, down by two points to a score of 97.

Barometer’s Index of future Expectations also went down, dropping five points by a score of 95, the lowest level since 2016.

The producers had little hope of what was going on. The Index of Current Conditions rose five points to 99, but rising commodity prices and uncertainty about the future continue to hamper farmers’ perceptions.

** U.S. and Chinese officials have discussed economic sanctions in the US as White House reports plan to reinstate some of the work that former government officials have done.

In a week-long call, the Chinese Deputy Prime Minister told US Secretary of State Janet Yellin that raising prices and sanctions as well as the proper management of Chinese businesses is a matter of concern.

However, of concern for the US, the author also included the impact of Russia’s war against Ukraine on the global economy and China’s economic system, which does not sell the market.

** A new United Nations report shows that the number of people affected by famine worldwide has risen to about 830 million by 2021.

A UN report says the world is moving in the opposite direction from the Sustainable Development Goal to eradicate hunger, malnutrition and malnutrition by 2030.

The report represents an increase of about 46 million since 2020, when the epidemic caused the global economy to decline, and another 150 million since 2019.

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