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Farmer sentiment hits lowest level since June 2022

An ag economist says farmer sentiment has dipped to its lowest level in the last two years.

Jim Mintert with Purdue’s Center for Commercial Agriculture says the Purdue University/CME Group Ag Economy Barometer fell 15 points from the previous month. “People are really worried about what’s going on here,” he says. “In 2024, the downturn in commodity prices, we saw that got underway in late November, early December continuing into the early part of this year. I think it’s really starting to weigh on folks.”

Farmer sentiment has dropped 79 points since its peak in 2021.

In the last three years, the lowest barometer readings have come in the spring, and Mintert says it’s not a huge surprise. “If you’re in an environment where you’re having trouble getting the crop in the ground, things aren’t progressing quite the way you wanted them to, maybe you got, from your perspective, what might have been an adverse acreage intention report at the end of March,” he says. “All those things could kind of play into that. With respect to your outlook and what your expectation is for your farms’ financial performance.”

He tells Brownfield farmers are more optimistic about the future, the Future Expectations index declined 14 points in the latest report.

The Ag Economy Barometer surveys 400 U.S. agricultural producers each month regarding the status of the U.S. farm economy.