The September Purdue University/CME Group Ag Economy Barometer reached its lowest readings since March 2016. Declining income expectations pushed farmer sentiment down as the barometer fell to 88, and the Index of Future Expectations dropped 14 points to 94. The Index of Current Conditions also fell seven points to 76, nearly matching levels seen in April 2020, during the height of COVID. September’s survey revealed that farmers are increasingly worried about commodity prices, input costs, agricultural trade prospects, and the potential impact of the upcoming election on their farm operations.
