Ag Economy Barometer: Long-term Optimism Beginning to Fade

WEST LAFAYETTE, IN – Two-thirds of producers responding to the August Purdue University/CME Group Ag Economy Barometer survey said they believe Congress should provide additional economic assistance to farmers in 2020 to help offset the impact of COVID-19 on agriculture.

In addition, over half of the farmers who responded expressed doubt about attending any in-person educational events in 2020 as a result of COVID-19 concerns. Despite these concerns, more farmers (16 percent) are expecting farmland values to rise over the next 12 months, up from last month (10 percent). That optimism seems to fade when asked about farmland in five years.

Just last month 55 percent expected values to rise over the next five years while less than half expect the same outcome this month.

The Ag Economy Barometer is based on responses from 400 U.S. agricultural producers with the latest survey conducted the week of July 20, 2020.
(SOURCE: Purdue Center for Commercial Agriculture)