Farmer sentiment continues to weaken. The Purdue University/CME Group Ag Economy Barometer declined again in July, falling to 135, an 11-point month-over-month decline from June. The July Current Conditions Index dropped 17 points to 127, while the Future Expectations Index posted a smaller decline of seven points to 139.
Purdue University’s James Mintert said that, despite the weakness in crop prices, high input costs remain the top concern among producers, chosen by 39 percent of respondents in July’s survey. The 2nd place concern, lower crop and livestock prices, was selected by 29 percent of respondents.
Mintert pointed out July’s survey was conducted just after the passage of the One Big, Beautiful Bill, providing some clarity concerning Farm Bill support levels, especially the PLC and ARC prices for crops.
Mintert added that producers were asked about the general direction of the U.S. 74 percent of respondents in July’s survey said the nation is headed in the right direction, versus 26 percent who said the country is on the wrong track.
