Ag Economy Barometer Holds Steady

The Purdue University/CME Group Ag Economy Barometer leveled off after two months of sharp declines. The July reading came in at 134, down three points from June’s reading. Both producers’ sentiment regarding current and future conditions also dropped.

The Index of Current Conditions dropped six points to a reading of 143, primarily due to weaker crop prices. The Index of Future Expectations dropped two points to 130. This marked the lowest barometer reading since July of 2020.

Producer sentiment regarding their farms’ financial condition was more optimistic when prices for corn, soybeans, and wheat were surging last fall, winter, and into the early spring. Still, recent sentiment readings suggest farmers remain cautiously optimistic about financial conditions on their farms.

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