After rising sharply two months in a row, the Ag Economy Barometer weakened significantly in August falling back to a reading of 124, down 29 points compared to a month earlier and just slightly below the June reading of 126.
The Ag Economy Barometer improved by 27 points in July to a reading of 153. July was the second month in a row that the barometer rose sharply, leaving the barometer 52 points higher than in May.
The Ag Economy Barometer improved by 25 points in June to a reading of 126. The improvement in farmers’ sentiment occurred in the midst of this spring’s corn and soybean planting delays in the nation’s mid-section, which is expected to lead to unprecedented levels of prevented planting claims for both corn and soybeans.
The Ag Economy Barometer collapsed by 14 points in May to a reading of 101. Producer sentiment dropped to the lowest level since since Oct 2016, erasing the large improvement in sentiment recorded following the November 2016 election.
The Ag Economy Barometer plummeted in April, declining to a reading of 115, an 18-point decline compared to March when the sentiment index stood at 133. The 18-point decline in the index was the fourth largest one-month fall in the barometer since data collection began in October 2015.
“This month’s drop is largely due to producers’ weaker outlook regarding future economic conditions in agriculture.” said Jim Mintert. Watch as he reviews the Purdue/CME Group Ag Economy Barometer results at purdue.ag/barometervideo.
Ag producer sentiment declines in February as farmers are less optimistic about current conditions and the commodity price outlook. Jim Mintert gives his review on the Ag Economy Barometer results at purdue.ag/barometervideo.
Farmer optimism improved for January as USDA makes payments. Jim Mintert shares more on the January Ag Economy Barometer results at purdue.ag/barometervideo.
Farmer sentiment towards the ag economy holds steady for November but there is still concern over interest rates, the farm bill, and future profitability. Jim Mintert breaks down the November Ag Economy Barometer results at purdue.ag/barometervideo.