Agricultural-producer sentiment declined for the second month in a row during September as the Purdue University-CME Group Ag Economy Barometer decreased 9 points to a reading of 106. Producers expressed concern about both the current situation as well as future prospects for their farms. The Current Conditions and Futures Expectations Indices both declined 10 points in September leaving the Current Conditions Index at a reading of 98 while the Future Expectations Index stood at 109. Weakening prices for major crops and ongoing concerns about inflated production costs and interest rates weighed on producer minds this month. September’s declines left all three indices at less than year-ago levels. This month’s Ag Economy Barometer survey was conducted Sept. 11-15, 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.
