Purdue Commercial AgCast

Ag Barometer Insights: December 2025 Survey Results

Farmer sentiment dipped slightly in December, with the Purdue University/CME Group Ag Economy Barometer dropping 3 points to 136. The decline was attributable to a softening in producers’ long-term outlook. The Future Expectations Index fell 4 points from the previous month to 140, while the Current Conditions Index remained steady at 128. Crop producers expressed increased concern about the competitiveness of U.S. soybean exports as Brazil expands its role in global markets, contributing to the more cautious outlook. The survey was conducted Dec. 1-5, 2025.

Purdue ag economists James Mintert and Michael Langemeier review the results from the Ag Economy Barometer and give their insights into farmer sentiment and the farm economy.

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Further details on the full report is available at https://purdue.edu/agbarometer. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast204.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/0Jnm3_yti_g to subscribe and watch.

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.

Subscribe to audio: https://purdue.ag/agcast

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg

What We Heard This Year—and Where We’re Going

Chad Fiechter and Todd Kuethe reflect on their conversations this past year and talk about future plans. They cover past discussions with notable guests, including Nate Kauffman from the Federal Reserve, Matt Erickson from the Senate, Joe Balagtas from the White House, ag investing consultant Joe Suttles, and Indian hog farmer Brian Martin. Todd shares his upcoming sabbatical plans to teach economies on the Semester at Sea program, while they both share more on their recent trip to Arkansas to learn about rice farming. They explore the impact of AI in agriculture and highlight the importance of understanding different agricultural practices and community perspectives. The conversation wraps up with light-hearted discussions on personal preferences and their hopes for future podcast topics.

Find all the past episodes discussed: https://purdue.ag/agcast

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic and farm management information, visit us at http://purdue.edu/commercialag.

Transcript from the discussion can be found at https://purdue.ag/agcast203.

Check out all of our Purdue Commercial AgCast video interviews on YouTube:  https://www.youtube.com/channel/UCS0sw5w6odSS111rbY1glHw 

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg, https://www.linkedin.com/company/center-for-commercial-agriculture

Whoosh in-out #1 by beman87 -- https://freesound.org/s/162841/ -- License: Attribution 3.0

Ag Barometer Insights: November 2025 Survey Results

November brought the highest farmer sentiment reading since June, with the Purdue University/CME Group Ag Economy Barometer jumping 10 points from October to 139. The increase was driven primarily by producers’ more optimistic outlook for the future, as the Future Expectations Index climbed 15 points to 144, while the Current Conditions Index dipped 2 points to 128. November’s survey is the first conducted after the late-October announcement of a U.S.-China trade pact that includes provisions to expand U.S. agricultural exports and revealed a notable improvement in producers’ confidence in future export opportunities. Sentiment also received support from a sharp rise in crop prices between mid-October and mid-November. The barometer survey took place Nov. 10-14.

Purdue ag economists James Mintert and Michael Langemeier review the results from the November Ag Economy Barometer and give their insights into farmer sentiment and the farm economy.

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Further details on the full report is available at https://purdue.edu/agbarometer. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast202.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/KDhYF5vTo_M to subscribe and watch.

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.

Subscribe to audio: https://purdue.ag/agcast

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg

Pig Farming in Focus: A Conversation with Brian Martin

Brian Martin, a fifth-generation pig farmer from Indiana, joins hosts Todd Kuethe and Chad Fiechter in this episode of Purdue Commercial AgCast. Martin shares his extensive experience in raising swine across the country, his involvement with the Indiana Pork Producers Association, and the vital role of internships and diverse experiences in agriculture. He also shares insight into the evolution of the hog industry, the complexities of farm management, and the impact of state policies on agriculture. From strategic business decisions to the challenges of labor and disease management, this episode provides a comprehensive look at the world of modern pig farming. 

Learn more about Martin Family Farms: https://teammartinfarms.com/

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic and farm management information, visit us at http://purdue.edu/commercialag.

Transcript from the discussion can be found at https://purdue.ag/agcast201.

Subscribe to audio: https://purdue.ag/agcast

Check out all of our Purdue Commercial AgCast video interviews on YouTube:  https://www.youtube.com/channel/UCS0sw5w6odSS111rbY1glHw 

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg, https://www.linkedin.com/company/center-for-commercial-agriculture

Ag Barometer Insights: October 2025 Survey Results

U.S. farmer sentiment edged slightly higher in October, with the Purdue University/CME Group Ag Economy Barometer rising 3 points to a reading of 129. The increase was fueled primarily by a rise in the Index of Current Conditions, which climbed 8 points to 130, while the Index of Future Expectations was virtually unchanged at 129, just 1 point higher than in September. Farmers’ appraisals of current conditions highlight a “tale of two economies”: Livestock producers remain highly optimistic about their farm conditions, partly supported by record-high profitability in the beef sector, while crop producers report a more pessimistic view of the current situation on their farms due to low profit margins across major crop enterprises. The barometer survey took place Oct. 13-17.

Purdue ag economists James Mintert and Michael Langemeier review the results from the October Ag Economy Barometer and give their insights into farmer sentiment and the farm economy.

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Further details on the full report is available at https://purdue.edu/agbarometer. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast198.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/Ujekqgm6DQk to subscribe and watch.

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.

Subscribe to audio: https://purdue.ag/agcast

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg

D.C. Insights: A Conversation with Joe Balagtas

Joe Balagtas, a former senior economist at the White House's Council of Economic Advisors (CEA) and professor of agricultural economics at Purdue joins colleague hosts Todd Kuethe and Chad Fiechter in this episode of the Purdue Commercial AgCast. Balagtas shares his unique experiences working at the CEA during the Trump administration and his role in providing the President with critical economic information. He provides a behind-the-scenes glimpse of his daily life, the stress and fulfillment of working under extreme pressure, and the lessons learned which he brings back to academia. The conversation provides insight into the importance of having specialized economists in policymaking and the dynamic nature of the White House during significant events like the trade war and COVID-19 pandemic.

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic and farm management information, visit us at http://purdue.edu/commercialag.

Slides and the transcript from the discussion can be found at https://purdue.ag/agcast199.

Subscribe to audio: https://purdue.ag/agcast

Check out all of our Purdue Commercial AgCast video interviews on YouTube:  https://www.youtube.com/channel/UCS0sw5w6odSS111rbY1glHw 

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg, https://www.linkedin.com/company/center-for-commercial-agriculture

Ag Barometer Insights: September 2025 Survey Results

Farmer sentiment held steady in September, as the Purdue University/CME Group Ag Economy Barometer rose just 1 point to a reading of 126. However, there was a shift in producers’ perceptions of current conditions and their expectations for the future. The Index of Current Conditions fell 7 points to 122, while the Index of Future Expectations climbed 5 points to 128. The survey was conducted following the U.S. Department of Agriculture’s release of the September Crop Production report and the World Agricultural Supply and Demand Estimates report. These reflected farmers’ concerns about current conditions, particularly over record-high corn and soybean yields, which were pressuring crop prices. At the same time, optimism about the future was supported by farmers’ belief that U.S. policy is “headed in the right direction” and by expectations that potential government support, like the 2019 Market Facilitation Program (MFP), will provide payments to farmers in compensation for lower commodity prices. The barometer survey took place Sept. 15-19.

Purdue ag economists James Mintert and Michael Langemeier review the results from the September Ag Economy Barometer and give their insights into farmer sentiment and the farm economy.

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Further details on the full report is available at https://purdue.edu/agbarometer. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast198.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/Ujekqgm6DQk to subscribe and watch.

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.

Subscribe to audio: https://purdue.ag/agcast

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg

Irrigated, Pasture & Hay Cash Rent Considerations

Jim Jansen from the University of Nebraska-Lincoln, joins Michael Langemeier to discuss cash rent considerations for irrigation, pasture, and hay leases. They provide factors affecting cash rent including maintenance costs, insurance, and land productivity and emphasize the importance of clear lease agreements. This episode highlights terms related to the three P's of irrigation: pivot, pump, and power; the big three in pasture: fencing, water supply, and controlling noxious weeds; as well as cow-calf pairs and hay cash rental calculations.  Offering practical advice for both landlords and operators on fair rental agreements.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/NbMwKl2w2GY to subscribe and watch.

To learn more about Indiana's 2025 farmland cash rental rates, listen to episode #195 on the Purdue Commercial #AgCast. https://purdue.ag/agcast

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast197.

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg

If you are enjoying the podcast, tweet us using #AgCast.

For the full August Purdue Agricultural Economics Report, visit: https://purdue.ag/paer.

Investment Strategies in Ag: A Conversation with Joe Suttles

Joe Suttles, a consultant in ag investing, joins hosts Todd Kuethe and Chad Fiechter in this episode of the Purdue Commercial AgCast to discuss his role and insights into private equity investments in agriculture. Suttles outlines his responsibilities in working with fund managers and managing existing investments to solve issues. He shares insight into the complexities of agricultural investments, emphasizing the importance of long-term focus and the intricate nature of managing agricultural production businesses. The conversation touches on the alignment and agency challenges in ag businesses, the role of institutional investors, and the potential future trends in farm management and consolidation. 

Check out all our “Purdue Commercial AgCast” podcast episodes: https://purdue.ag/agcast

2025 Cash Rental Rates

Purdue ag economists Todd Kuethe and Michael Langemeier discuss Indiana farmland cash rental rates on this, the second of two episodes reviewing the 2025 Purdue Farmland Values and Cash Rental Rates survey results. The survey shows Indiana cash rents continue to rise by about one and a half percent. The episode shares historical trends in cash rents, and how cash rents compare to share and flex lease rents, regional differences, net returns to land, and the increasing interest in flexible cash leases from both landowner and tenant perspectives. Additional resources and detailed survey results are available on the Center for Commercial Agriculture website.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/6agOo0Pif9U to subscribe and watch.

To learn more about Indiana's 2025 farmland cash rental rates, listen to the first podcast in this series, episode #194 on the Purdue Commercial #AgCast.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast195.

Socials: https://twitter.com/PUCommercialAg, https://www.facebook.com/PUCommercialAg

If you are enjoying the podcast, tweet us using #AgCast.

For the full August Purdue Agricultural Economics Report, visit: https://purdue.ag/paer.