U.S. farmers are balancing worries about current conditions with optimism for future policy support, as producer sentiment rose one point in September, according to the Purdue University-CME Group Ag Economy Barometer.
Despite the overall increase, weak commodity prices and rising pessimism from farmers have caused a seven-point drop in sentiment regarding current conditions.
Expectations for farm financial performance and support for tariffs are also both down for the third consecutive month. This is consistent with the farm capital investment index, which dropped eight points this month.
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Still, farmers are holding onto hope for future policy support with 71% believing that the U.S. is generally “headed in the right direction,” and 83% expecting to see Market Facilitation Program-style compensation due to export losses.
The monthly survey also included a question asking farmers what percentage of land they planted cover crops on. This year, over half reported planting cover crops on 26% to 50% of their acreage, continuing a steady increase since 2021.
The barometer is based on survey results gathered Sept. 15-19. The next report will be released Nov. 4.
