The September Purdue University/CME Group Ag Economy Barometer recorded its lowest reading since March 2016. The barometer fell 12 points to 88 and the Index of Future Expectations dropped 14 points to 94. The Index of Current Conditions decreased by 7 points to 76. This nearly matches levels seen during the height of COVID-19 concerns.

Framers report being increasingly worried about commodity prices, input costs, agricultural trade and the potential impact of the upcoming election. Low commodity prices and high input prices, at 33% and 34%, ranked as the top concerns. Interest rates followed these factors at 17%.

Only 26% of respondents surveyed expect exports to rise over the next five years. Additionally, 78% of surveyed producers were concerned that government policy changes following the fall 2024 elections would impact their farms.

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