Farmer sentiment jumped again in November, with the Purdue University/CME Group Ag Economy Barometer climbing 30 points to a reading of 145. This marked the highest level of farmer optimism since May 2021. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the November 2024 Ag Economy Barometer survey, conducted Nov. 11-15, 2024, the week following the U.S. presidential election. Both of the barometer's sub-indices increased in November. The Future Expectations Index saw the largest jump, rising 37 points to 161, while the Current Conditions Index increased 18 points to 113. The November sentiment boost reflects growing optimism about a more favorable regulatory and tax environment for agriculture following the U.S. election.
The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. The full report is available at https://purdue.edu/agbarometer.
Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.
Slides and the transcript from the discussion can be found at https://purdue.ag/agcast179.
You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/PlvesDCoYj8 to subscribe and watch.
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