Farmer sentiment increased again in November, according to a survey conducted from November 11 to 15. The Purdue University-CME Group Ag Economy Barometer climbed 30 points to 145. This is its highest level since May 2021.

Both the Future Expectations Index and Current Conditions Index improved significantly. The future expectations increased by 37 points to 161. The boost in optimism was partially driven by hopes for a more favorable regulatory and tax environment following the November elections.

Farmers’ financial outlook improved, with 33% expecting better conditions in the next 12 months. This is up from 19% in October. Longer-term optimism also rose, with 52% anticipating widespread agricultural prosperity over the next five years. This compares to 34% who felt that way in October.

The Farm Capital Investment Index climbed 13 points to 55. This reflects improved expectations for financial performance in 2025. Policy expectations shifted significantly. Only 9% of farmers now foresee more restrictive environmental regulations. This compares to 41% in October.

Concerns over a trade war remain, with 42% believing a trade war could threaten U.S. agricultural exports.

Read the latest from the Purdue University-CME Group Ag Economy Barometer here.