Post-Harvest Slump in Ag Producer Sentiment

The Purdue/CME Group Ag Economy Barometer dropped 7 points in November, signaling a slump in U.S. agricultural producers’ confidence compared to a month earlier. At a reading of 128, the measure of producer optimism in November was the second weakest observed during 2017 and stood just 4 points above the 2017 low of 124, set in March (Figure 1). Based on a monthly phone survey of 400 agricultural producers from across the U.S., the latest results, although indicating producers were less confident about the agricultural economy than in October, still suggest agricultural producers remain more optimistic than they were prior to the fall 2016 election.