Ag News: Famer Sentiment Higher
**Farmer sentiment improved modestly in December as the Ag Economy Barometer rose 7 points from November to a reading of 174.
agrimarketing.com reports, December's sentiment improvement still left the barometer 9 points below October.
Both of the barometer's sub-indices, the Index of Current Conditions and the Index of Future Expectations, were higher in December although the current conditions improvement was three-times the size of the future expectations increase.
**Given the time necessary to convert legislation into action, the Biden administration will oversee the payment of most or all of the $13 billion in agricultural aid included in the latest coronavirus package
Ag Undersecretary Bill Northey tells agriculture.com, there’s still a chance some funds could flow before the end of January, or before the administration change January 20th.
Farmers would receive payments of $20 an acre, roughly $5 billion in all, on crops that suffered at least a 5% price decline during a specified period.
**After a dry autumn and early winter, the odds of California receiving average precipitation this water year stand between 10% and 30%.
That’s the estimate from climate experts, who say that storms forecast for early to mid-January could bring some improvement to Northern California.
Farmers say they’re making contingency plans for tight water supplies while hoping additional storms will boost the Sierra snowpack and reservoir storage