The November Ag Economists’ Monthly Monitor survey revealed a shift in perspective from the last two monthly reports. The survey consists of about 70 ag economists from around the U.S. Fresh in November is renewed optimism regarding crop prices for harvest next fall. Both corn and soybean prices have moved higher, spurring the positivity and boosting net farm income estimates.

The survey shows a spike in income forecasts for the new year by almost $5 billion. South America presents another factor impacting crop prices over the next six months, as well as ongoing geopolitical events regarding China and the Black Sea.

Read more on the latest Ag Economists’ Monthly Monitor, a survey from the University of Missouri and Farm Journal, here.