Farmers aren’t feeling particularly rosy about the future, according to the latest Purdue University/CME Group Ag Economy Barometer.
Although producers are somewhat more optimistic about current conditions – that index rose 11 points to 120 and the overall farmer sentiment rose three points to 116 – the future expectations index dropped to 114, its lowest since September 2024.
“Nearly 44% of producers report their operation is worse off than last year, and only 7% plan to increase machinery purchases — signaling continued financial caution,” Purdue economist Michael Langemeier said in a summary. “At the same time, 51% of farms still expect to expand over the next five years, and 36% plan to bring another family member into the business.”
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The 400 operations surveyed have an annual market value of production equal to or exceeding $500,000. "Operations at key agricultural enterprises to be targeted include the following: corn/soybeans; wheat; cotton; beef cattle; dairy [and] hogs," according to the methodology. "These enterprises collectively account for 67 percent of all U.S. agricultural production."
“Farmers' perspective on U.S. agricultural exports was less pessimistic in February than in January but more pessimistic than in December 2025,” the report said. “Responding to a broad question about the future of agricultural exports, 14% of respondents in February expected exports to decline over the next five years.” That percentage was down from 16% in January but still up considerably from 5% in December.
On an even broader question – are things in the U.S. generally headed in the right direction or on the wrong track? – the percentage of producers who answered in the affirmative dropped from 75% in December to 59% in February.
The percentage who say the country is on the wrong track rose 16 percentage points from 25% in December to 41% in February, a 65% increase. The survey was conducted from Feb. 2-6.
