Farmer sentiment strengthened in November as rising crop prices and improved export prospects pushed the Purdue University/CME Group’s Ag Economy Barometer to 139, the highest level since June.
Much of the increase was driven by a sharp 15-point jump in future expectations, even as current conditions held steady. The Future Expectations Index rose 15 points to 144.
Financial outlooks improved alongside a 10-15 percent rally in fall-delivery corn and soybean bids, helping offset weaker cattle prices in the livestock sector. However, producers remain cautious as capital investment slipped further, and fewer farmers say today is a good time to expand.
Long-term farmland value expectations reached a record high, while most corn producers anticipate stable cash rental rates heading into 2026.
The survey also showed shifting crop production strategies as growers respond to projected tight operating margins, including lower-cost seed traits, reduced phosphorus applications, and adjustments to seeding and nitrogen rates.