After rising for two months, farmer sentiment in June fell to 146, down 12 points from a four-year-high in May, according to the Purdue University/CME Group Ag Economy Barometer.

This decline was driven primarily by a drop in the Index of Future Expectations, which decreased 18 points since May. The report says the “weakened outlook” of producers is tied to lower optimism for agricultural exports.

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Since May’s report on farmer sentiment, the percentage of producers expecting increased ag exports dropped from 52% to 41%. Respondents who said they expected declining exports increased 4 percentage points to 16%. Producers were nonetheless more optimistic than in March, when 30% of respondents expected declining ag exports.

The June barometer survey was conducted June 9-13; the next sentiment reading is scheduled to be released August 5.

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