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Farmer sentiment improves in this month’s Ag Economy Barometer survey despite ongoing economic concerns

An ag economist says he’s surprised ongoing market volatility didn’t have an impact on farmer sentiment in this month’s Purdue University/CME Group Ag Economy Barometer.

Michael Langemeier, director of Purdue’s Center for Commercial Agriculture, says producers are becoming more optimistic about their current financial situation.

“The improvements in sentiment took place before the recent increase in corn and soybean prices,” he says. “For the first time in over a year, a higher percentage said they expect better financial performance next year. That’s certainly a signal for the improvement in sentiment.”

But, he tells Brownfield uncertainty continues to impact producers’ long-term outlook. 

“It’s a little surprising that sentiment is as strong as it is,” he says. “We haven’t passed a farm bill and there’s still a couple geopolitical conflicts impacting both input and output prices.”

Langemeier says he expects farmer sentiment to improve again in September as commodity prices continue to increase.

The Barometer is a nationwide measure of the health of the U.S. agricultural economy and surveys 400 agricultural producers on economic sentiment each month.

AUDIO: Michael Langemeier, Purdue’s Center of Commercial Agriculture