Despite Lingering Concerns, Farmer Sentiment is slowly Improving

WEST LAFAYETTE, IN – Farmers sentiment improved modestly in May but remained nearly 40 percent below its peak just 90 days ago. The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy and is based on conversations with 400 producers across the country every month. The Barometer’s Index of Current Conditions and the Index of Futures Expectations improved for the month as current conditions seem to drive the barometer’s small increase. Over 70 percent of producers said they are worried about coronavirus’ impact on their farm’s profitability, with over 60 percent expecting farmers’ equity positions to decline over the next year. In the face of widespread ethanol plant shutdowns, over 80 percent of farmers said they are concerned about the future viability of the U.S. ethanol industry.
(SOURCE: CME Group)