Future expectations for the agriculture economy turned lower in the latest monthly Ag Economy Barometer by CME Group and Purdue University. Released Tuesday, the September reading of 132 was unchanged compared to August. However, the barometer’s two sub-indices, the Index of Current Conditions and Index of Future Expectations, did shift in opposite directions.
The Current Conditions Index rose to 135, while the Future Expectations Index fell to 130. Organizers of the survey say that while the decline in the Future Expectations index was modest, it could be an indication that some of the optimism that surfaced among producers in late 2016 and early 2017 is eroding.
The Barometer surveys 400 agricultural producers monthly. A rating below 100 is negative, while a rating above 100 indicates positive sentiment regarding the agriculture industry.