The Purdue University-CME Group Ag Economy Barometer rose 4 points in October to a reading of 110. Improving sentiment resulted from farmers’ improved perspective on current conditions on their farms as well as their expectations for the future. The Index of Current Conditions rose 3 points to 101 while the Index of Future Expectations rose 5 points to 114. Farmers in this month’s survey were a bit less concerned about the risk of lower prices for crops and livestock and felt somewhat better about their farms’ financial situation than a month earlier.
The Farm Financial Performance Index rose to a reading of 92, its first time reading over 90 since spring. This month's update said that reports of higher than expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, likely contributed to this month’s rise in the financial conditions index.
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