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In the latest Purdue University/CME Group Ag Economy Barometer, farmer sentiment decreased from 121 in April to 119 in May. The decline in sentiment was attributable to an 8-point decline in current conditions. The percentage of producers who expected good times over the next five years was 37% in May 2026, which is 16% lower than in the May 2025 survey report.
Concerns about input costs reached a new high, and high input costs were identified as the most important factor limiting improvements in financial performance. A lower percentage of respondents indicated that U.S. policy is headed in the “right direction.” However, respondents were relatively more optimistic regarding both short-term and long-term land values.