Farmer sentiment rebounded in June as the Purdue University-CME Group Ag Economy Barometer increased 17 points to a reading of 121. June’s sentiment improvement left the index near the April reading of 123 after a one-month swoon in May. The swing in sentiment was driven by producers’ more-optimistic view of the future – the Index of Future Expectations increased 25 points to 123 – while their perception of the current situation was unchanged. The Index of Current Conditions reading, at 116, was the same as in May. This month’s Ag Economy Barometer survey was conducted June 12-16, 2023.
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.
