The August Purdue University/CME Group Ag Economy Barometer dropped 13 points from July to a reading of 100, echoing levels seen from fall 2015 to winter 2016 during the early stages of a significant downturn in the U.S. farm economy. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the August 2024 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.

All three broad-based measures of farmer sentiment improved in July as the Purdue University/CME Group Ag Economy Barometer index rose 8 points to 113, the Index of Current Conditions increased by 10 points to 100, and the Index of Future Expectations at 119 was 7 points higher than a month earlier. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the July 2024 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.

Farmer sentiment drifted downward in June as the Purdue University/CME Group Ag Economy Barometer reading of 105 was 3 points lower than a month earlier. The overall decline in sentiment was due to a five-point drop in the Index of Future Expectations, which fell to 112, while the June Current Conditions Index increased to 90, 1 point higher than the May index. High input costs, the risk of lower prices for their products, and rising interest rates continue to weigh on farmer sentiment.