Ag Barometer Insight: May 2021 Survey

The Ag Economy Barometer declined 20 points in May to 158 which is the lowest barometer reading since September 2020 when the index stood at 156. Both principal sub-indices, the Index of Current Conditions and Index of Futures Expectations, declined also. Reflecting expectations for a strong crop sector, two-thirds of corn and soybean producers expect farmland cash rental rates to rise in 2022 compared to 2021. Purdue ag economists James Mintert and Michael Langemeier review the results and give some insight into the May 2021 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. This month’s survey was conducted from May 10-14, 2021. The full report is available at https://purdue.ag/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.