The Purdue University/CME Group Ag Economy Barometer, conducted between March 10-14, fell 12 points in March to 140. This was primarily due to concerns over agricultural trade and falling crop prices.

The decrease was accompanied by a 15-point drop in the Index of Future Expectations to 144. The Current Conditions Index fell 5 points to 132. This indicates that farmers remain more optimistic about future conditions than current conditions.

The Farm Capital Investment Index fell 5 points to 54. This remains the second-highest reading since June 2021. The Farm Financial Performance Index also dropped 8 points to 102. The number reading above 100 indicates slightly positive expectations for farm finances.

Farmland value expectations remained steady at 118. This suggests farmers anticipate stable or modestly increasing land values.

Michael Langemeier of Purdue University noted that while overall sentiment weakened, farmers remain cautiously optimistic. This is particularly true regarding farmland values and livestock sector returns.

Long-term expectations for U.S. agricultural exports have declined to a survey-record low in March. Only 33% of producers expect export growth, while 30% anticipate a decline. This highlights ongoing concerns about future trade prospects.

Read more results from the Purdue University/CME Group Ag Economy Barometer here.