Farmer sentiment jumped again in November as the Purdue University-CME Group Ag Economy Barometer climbed 30 points to 145. Both the Current Conditions and Future Expectations indices increased in November, with the biggest improvement taking place in future expectations.
According to the new report, the Future Expectations Index increased 37 points to 161, while the Current Conditions Index rose to 113, 18 points above October’s reading. November’s sentiment improvement pushed the barometer to its highest level since May 2021, with expectations for the future also reaching their highest level since April 2021.
Responses to the base questions used to compute the Ag Economy Barometer index were nearly all more positive in November than in October. One-third of November’s respondents said they expect their operation to be better off financially a year from now, compared to 19% who felt that way in October. Thirty-four percent of farmers in November said they expect good times financially for the U.S. agricultural sector in the next 12 months compared to just 15% of respondents in October.
To see more numbers from the November report click here.