Farmers Moods: Improved from 2016, Worried About Trade, Economy

Sentiment among farmers remains unchanged in recent months. Their moods are lukewarm. But, compared to this time last year, the mood is better.

The Purdue/CME Group Ag Economy Barometer for September was 132, which was identical to its August reading. In October 2016, the barometer was significantly lower than today at 92.

The monthly measure of farmer sentiment reflects survey responses from 400 U.S. producers of corn, soybeans, wheat, cotton, beef cattle, dairy cattle, and hogs. It has ranged between 130 and 139 over the last six months.

It peaked at 153 in January 2017.

Although the barometer was unchanged in September, its two sub-indices, the Index of Current Conditions and Index of Future Expectations, shifted. The Index of Future Conditions turned down modestly in September. The Index of Current Conditions reached its second-highest level in nearly two years.

Analysts say that influencing the sentiment are a diminishing optimism about the expansion of the U.S. economy and uncertainty over trade.