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PURDUE/CME GROUP AG ECONOMY BAROMETER FALLS FOR SECOND MONTH
Jul. 6, 2021
Blog by James Mintert and Michael Langemeier, Purdue Center for Commercial Agriculture
To view the complete report, click here.
For the second month in a row, the Ag Economy Barometer declined sharply, falling to a reading of 137, which was 21 points below a month earlier, and the weakest ag producer sentiment reading since July 2020.
Producers in June were less optimistic about both current conditions on their farming operations as well as their expectations for the future. Weakening perceptions of current conditions on their farms was the biggest driver of the barometer's decline as the Index of Current Conditions declined 29 points to 149, the lowest Current Conditions Index reading since September 2020.
Producers were also less optimistic about the future as the Index of Future Expectations declined 17 points to 132, the lowest Future Expectations Index reading since July 2020. The Purdue University-CME Group Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers' responses to a telephone survey. This month's survey was conducted from June 21-25, 2021.
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