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Farmer sentiment rebounds in the latest Ag Economy Barometer survey

The latest Purdue University/CME Group Ag Economy Barometer shows farmer sentiment has rebounded for the first time in three months.

Ag economist Michael Langemeier, director of Purdue’s Center for Commercial Agriculture, says producers are more optimistic about the current economic outlook. 

“There was an increase in corn prices of about 25 cents,” he says. “There was an increase in soybean prices of about 75 cents. There was also a slight reduction in both nitrogen prices and diesel prices. That certainly helped.”

But, he tells Brownfield more than 60 percent of survey respondents remain concerned about long-term profitability.

“Crop producers are very worried about the margins over the next five to ten years,” he says. “Even though sentiment is up, there’s still some real concern about input costs and low crop prices.”

Langemeier says he expects sentiment to remain relatively flat heading into the harvest season.

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.