Latest Purdue/CME Group Ag Economy Barometer Steady

WEST LAFAYETTE, IN – Though producers are becoming more optimistic about the future, their views on the current conditions tell a slightly different story.

According to Dr. Jim Mintert, Director of the Center for Commercial Agriculture at Purdue University, April’s Ag Economy Barometer is virtually unchanged (up 1 point from March to 178) as the Index of Future Expectations improved from last month (up 5 points to 180).

There is concern about current conditions, according to the Barometer which is calculated monthly based on interviews with 400 producers nationwide. The latest Index of Current Conditions fell in the late-April survey to a reading of 195 (down 7 points).

The Farm Financial Performance Index hit a record high in April, up 13 points from March to a reading of 138 – a 166 percent increase in just one year – as half of producers surveyed indicated they expect better financial performance in 2021 compared to 2020. Strength in commodity prices continues to drive improving expectations for strong financial performance, even as many producers face rising input costs.
(SOURCE: All Ag News)