Farmer sentiment improved in July, ending three consecutive months of decline,. The Purdue University-CME Group Ag Economy Barometer Index increased from 113 points in June to 126 points in July. Both subindices also increased. The Index of Current Conditions increased by 20 points, while the Index of Future Expectations increased by 11 points. The improvement came as corn and soybean prices increased from mid-June to mid-July. The percentage of respondents who listed inflated input costs as their biggest concern was 46 percent in July. When asked about their biggest challenge to success in the next five to 10 years, 30 percent of respondents indicated that crop or livestock prices were their biggest challenge. The July barometer survey was conducted among 405 farmers across the country from July 13 to 17.
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Michael Langemeier
Joana Colussi
Michael Langemeier is the director of the Purdue University-Center for Commercial Agriculture and an agricultural economist with Purdue University. Joana Colussi is an assistant professor in the Purdue University-Department of Agricultural Economics. Each month the Ag Economy Barometer from the Purdue University-Center for Commercial Agriculture surveys 400 U.S. agricultural producers to discern attitudes and sentiments regarding the status of the U.S. farm economy. Each quarter 100 agribusiness leaders are surveyed to provide additional insight into the health of the agricultural economy. Visit ag.purdue.edu for more information.
