The Purdue University/CME Group Ag Economy Barometer farmer sentiment index rose 6 points in July to a reading of 103. Producers were somewhat more optimistic about both current and future economic conditions on their farms when compared to June. The Index of Current Conditions rose 10 points to a reading of 109, and the Index of Future Expectations rose four points to a reading of 100. Although all three indices rose this month, they were still 23 percent to 24 percent lower than a year earlier. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted July 11–15.
“Even though we saw a slight uptick in sentiment this month, there is still a tremendous amount of