Purdue ag economist James Mintert reviews the results from the June 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. Farmer sentiment improved for the second month in a row, rebounding from sharp declines that took place in both March and April. The improvement in farmer sentiment left the Ag Economy Barometer 7 percent below one year earlier, while the Index of Future Expectations was still 10 percent below its June 2019 level. The Index of Current Conditions, however, was two percent higher than in June 2019, likely reflecting considerably improved spring planting conditions throughout much of the nation, in addition to support from USDA’s Coronavirus Food Assistance Program (CFAP).
The full report entitled “Farmer Sentiment Rebounds Amidst Ongoing COVID-19 Concerns” is available at https://purdue.ag/barometer57. Download and listen to Purdue Commercial AgCast podcast which includes a detailed discussion of each month’s barometer, in addition to recent agriculture news that impacts farmers. Available now at https://purdue.ag/agcast.