The Purdue University/CME Group Ag Economy Barometer dropped 7 points in January to a reading of 167. While the Index of Current Conditions remained relatively flat, down 3 points to a reading of 199; the Index of Future Expectations fell 10 points to a reading of 151. Since its peak in October, the Ag Economy Barometer has fallen 9%, all attributable to weaker expectations for the future. The Index of Future Expectations has fallen 19% since October, while the Index of Current Conditions rose 12% over the same time period. 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 from Jan.18-22.
Barometer decline driven by policy concerns, weaker expectations for the future. Index has fallen 19% since October.
James Mintert and Michael Langemeier | Feb 02, 2021
The Ag Economy Barometer declined 7 points in January to a reading of 167, which is equal to the index’s November reading.
Current conditions vs. future expectations
The Index of Current Conditions in January was essentially flat compared to a month earlier with a reading of 199 vs. 202 in December, whereas the Index of Future Expectations declined 10 points to a reading of 151.
Since peaking in October, the Ag Economy Barometer has fallen 16 points or about 9%. The barometer’s decline over the last three months is all attributable to weaker expectations for the future as the Index of Future Expectations has fallen 35 points, or about 19%, since October.
Ag Barometer drifts lower, farmers concerned about the future despite strong economic conditions
Ag Barometer drifts lower, farmers remain concerned about the future despite strong economic conditions. Purdue/CME Group Ag Economy Barometer/James Mintert
-Purdue and CME Group
WEST LAFAYETTE, Ind. and CHICAGO The Purdue University/CME Group Ag Economy Barometer dropped 7 points in January to a reading of 167. While the Index of Current Conditions remained relatively flat, down 3 points to a reading of 199; the Index of Future Expectations fell 10 points to a reading of 151. Since its peak in October, the Ag Economy Barometer has fallen 9%, all attributable to weaker expectations for the future. The Index of Future Expectations has fallen 19% since October, while the Index of Current Conditions rose 12% over the same time period. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was condu