September 26, 2023

WEST LAFAYETTE, Ind. and CHICAGO —The Purdue University/CME Group Ag Economy Barometer index improved in June, rising 17 points to a reading of 121. The upswing in sentiment was driven by producers’ more optimistic view of the future; however, their perception of current conditions remained unchanged from May. The Index of Future Expectations rose 25 points to a reading of 123, while the Index of Current Conditions held flat at a reading of 116 in June. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted June 12-16.

“Optimism about U.S. agriculture’s future and a more sanguine interest rate outlook help explain producers’ more positive view of the future expressed in June’s survey; however current conditions in the farming economy continue to present a challenge for some producers,” said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture. “This month four out of 10 producers stated that their financial situation has deteriorated compared to a year ago.”

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