This month’s sentiment index was the weakest barometer reading since July of 2020 and marked a return to sentiment readings observed from 2017 through 2019 when annual average barometer readings ranged from 131 to 133. Ag producers’ sentiment regarding current conditions weakened in July. The Index of Current Conditions, at 143, fell 6 points below June’s value as principal crop prices weakened. The Index of Future Expectations also softened, but at 130 was just 2 points below a month earlier. The Purdue University-CME Group Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted from July 19-23, 2021.
