Ag News: Ag Economy Barometer Down and Global Hunger Grows
**The Purdue University/CME Group Ag Economy Barometer continued lower in June, down two points to a reading of 97.
The barometer’s Index of Future Expectations also dropped, falling five points to a reading of 95, the lowest level since 2016.
Producers were slightly more optimistic about current conditions. The Index of Current Conditions rose five points to 99, but rising input costs and uncertainty about the future continue to weigh on farmer sentiment.
**Senior U.S. and Chinese officials discussed U.S. economic sanctions amid reports the White House is considering rolling back some duties imposed by the previous administration.
During week’s call, China’s Vice Premier told U.S. Treasury Secretary Janet Yellin that lifting tariffs and sanctions and the fair treatment of Chinese enterprises are areas of concern.
However, of U.S. concerns, the secretary included the impact of Russia’s war against Ukraine on the global economy and China’s unfair, non-market economic practices.
**A new United Nation’s report shows the number of people affected globally by hunger rose to nearly 830 million in 2021.
The UN report says the world is moving in the opposite direction from the Sustainable Development Goal of ending hunger, food insecurity and malnutrition by 2030.
The report represents an increase of about 46 million since 2020, when the pandemic plunged the world’s economy into a downward spiral, and 150 million more since 2019.