Nov 05 2024 18 mins
Farmer sentiment saw an unexpected surge in October ahead of the upcoming U.S. election, according to the latest Purdue University/CME Group Ag Economy Barometer. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the October 2024 Ag Economy Barometer survey, conducted from Oct. 14-18, 2024. The Barometer Index rose 27 points to 115, with increases in both the Current Condition Index and the Future Expectation Index. Key insights include farmers' improved optimism about 2025 despite high input costs and lower crop prices. Specific survey responses on financial conditions, investment plans, and farmland value expectations are discussed, alongside their potential influences, such as the upcoming election and policy concerns.
The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. The full report is available at https://purdue.edu/agbarometer.
Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.
Slides and the transcript from the discussion can be found at https://purdue.ag/agcast178.
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