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STRONG COMMODITY PRICES BOOST PURDUE/CME'S BAROMETER TO ITS SECOND HIGHEST LEVEL
Apr. 7, 2021
Source: Purdue University news release
The Ag Economy Barometer rose in March to 177, the highest reading for the barometer since the record high reading of 184 in October.
This month's 12-point rise in the barometer was attributable almost entirely to ag producers' more optimistic view of the future as the Index of Future Expectations climbed to 164, 16 points above February's index.
Although the Index of Current Conditions, at 202, changed little from a month earlier when it stood at 200, it did mark a return to the index's record high, first reached in December.
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| Figure 1. Purdue/CME Group Ag Economy Barometer, October 2015-March 2021.
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Strong ag commodity prices and improved farm financial conditions continue to support the Ag Economy Barometer readings as we head into spring.
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| Figure 2. Indices of Current Conditions and Future Expectations, October 2015-March 2021.
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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 from March 22-26, 2021.
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