Farmer sentiment weakened sharply in January as the Purdue University-CME Group Ag Economy Barometer Index decreased from 136 in December 2025 to 113 in January 2026. The Current Conditions Index decreased 19 points while the Future Expectations Index decreased 25 points. Among the five indices that comprise the Ag Economy Barometer Index, the largest decline was in the question asking participants whether U.S. agriculture would have good times or bad times in the next five years. The index for that question decreased from 122 to 88, marking its worst point since September 2024. Respondents also expressed greater concerns about agricultural exports compared to the previous month. The January barometer survey took place Jan. 12-16. As a point of reference, the January World Agricultural Supply and Demand Estimates report was released Jan. 12.
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James Mintert
Michael Langemeier
James Mintert and Michael Langemeier are agricultural economists with Purdue University. 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.
