Farmer Sentiment Moved Higher In October

Farmer sentiment edged higher in October, but concerns about the future continue to weigh on the minds of producers. The Purdue University-CME Group Ag Economy Barometer rose three points to 126, driven by a 16-point jump in the Current Conditions Index. However, future expectations slipped two points.

Farmers showed some improvement in their financial outlook, with the Farm Financial Performance Index rising four points. The Farm Capital Investment Index also climbed sharply, although just 20% of producers say now is a good time to invest in machinery and buildings.

High input costs remain the top concern, and longer-term worries are growing. Just 35% of farmers believe increased U.S. tariffs will strengthen agriculture over time, while fewer than half say the country is headed in the right direction. The share of respondents who thought the U.S. was heading in the right direction averaged more than 60% from July 2025 to June 2026 but fell below 50% in both the September and October surveys.