Despite ongoing tariff tensions, many US farmers remain optimistic about the future of agricultural trade.
According to the July edition of the Purdue University-CME Group Ag Economy Barometer, 43% of surveyed producers believe American agricultural exports will rise over the next five years — up from 41% in June. Additionally, 64% think new foreign markets will open to U.S. agricultural goods in that time.
The barometer, which is based on a survey of 400 producers across the country, provides a monthly snapshot of farm economic sentiment. The survey for the July barometer was taken July 7 – 14.
The trade optimism comes even as overall farmer sentiment continues to slide. The overall barometer fell 11 points to 135 in July, marking its second consecutive monthly decline. The drop was driven by producers’ worsening views of both current conditions and expectations for the future, largely fueled by declining crop income prospects and softening commodity prices.
“Weakening crop prices are eroding income prospects,” the barometer commentary said. “For example, in the Eastern Corn Belt, bids for fall harvest delivery of corn and soybeans were 7% and 3% lower during the July survey week, respectively, than just 4 weeks earlier.”
However, in this month’s survey, 31% of respondents also said they expect the safety net in the 2025 Farm Bill to be stronger than in the previous Farm Bill.
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