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Farmer sentiment plunged in April as the Purdue University-CME Group Ag Economy Barometer fell 15 points below a month earlier to a reading of 99. The barometer’s sub-indices both declined from a month earlier, with the Current Condition Index at 83, down 18 points, and the Future Expectations Index at 106, down 14 points.
This was the weakest farmer sentiment reading since June 2022 and the lowest current condition rating since May 2020. Concerns about their farms’ current financial situation and expectations for weak financial performance in the year ahead were the driving forces behind the fall-off in farmer sentiment. The April Ag Economy Barometer survey was conducted from April 8-12, 2024.
