Soybean field with white house in the distanceThe Purdue University-CME Ag Economy Barometer fell 15 points in April. The reading of 99 is the weakest farmer sentiment since June 2022. Concerns about farm finances and expectations for weak financial performance in the year ahead are fanning the pessimism.

The Farm Financial Performance Index decreased to 76. This is 7 points below March and 21 points behind last fall’s peak of 97. This gauges the farmers’ expected financial performance versus the previous year. This indicates most farmers anticipate 2024 will be a difficult year.

Farmland Value Expectations fell 12 points from March. Only 29% of producers expect farmland values in their area to increase in the next 12 months. Many respondents expect farmland values to remain unchanged.

Read more about the Purdue University-CME Group Ag Economy Barometer results here.