Ag Economy Barometer Slips

The Purdue/CME Group Ag Economy Barometer dropped seven points in November, yet producers remain more optimistic than they were prior to the election of 2016.

The seven-point drop signaled a slump in U.S. agricultural producers’ confidence compared to a month earlier. At a reading of 128, the measure of producer optimism in November was the second weakest in 2017; it stood just 4 points above the 2017 low of 124, which was set in March.

The November slide reflects diminished optimism about the future among producers. The Index of Future Expectations declined 10 points compared to October. The decline stands in contrast to producers’ assessment of current economic conditions. The Index of Current Conditions reading of 129 in November was unchanged from October.