According to a report from Purdue and CME Group, the Ag Economy Barometer plummeted in March, dipping 47 points (28%) from a month earlier to a reading of 121. The point drop was the largest one-month fall in the life of the index, which dates to October 2015.
Results from the most recent Purdue University/CME Group monthly Ag Economy Barometer study showed farmers surveyed in December were somewhat less optimistic about the future direction of farmland values than indicated on November's survey.
USDA’s June Acreage report was conducted too early to adequately capture the impact of prevented plantings on 2019 corn and soybean acreage. The Ag Economy Barometer asked growers if they are taking a prevented planting payment on any acreage in 2019.
Although both the Index of Current Conditions and the Index of Future Expectations improved during July compared to a month earlier, the big driver of the overall sentiment improvement was producers’ improved perspective on current conditions.
The Ag Economy Barometer rebounded in June to a reading of 126, 25 points higher than a month earlier. The barometer is based upon a nationwide monthly survey of 400 U.S. agricultural producers. Both of the barometer’s sub-indices, the Index of Current Conditions and the Index of Future Expectations, improved compared to a month earlier.
The Ag Economy Barometer, an agricultural producer sentiment measure based upon a nationwide mid-month survey of 400 U.S. agricultural producers, dropped again in May. The May barometer reading of 101 was 14 points lower than a month earlier and was the lowest barometer reading since October 2016.
Results of the December 2018 Purdue University/CME Group Ag Economy Barometer indicates that U.S. farmers aren’t sure making capital expenditures for their farms is a good idea just yet.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.