Farmer sentiment dropped in April with the Purdue University-CME Group Ag Economy Barometer Index falling from 127 in March to 121.

The Current Conditions Index fell by 11 points, while the Future Expectations Index decreased by 4 points 

The percentage of respondents who listed high input costs as their biggest concern remained at 46% this month, while the percentage who listed input availability as their biggest concern increased from 11% to 14%. The percentage of respondents who think the U.S. is headed in the “right direction” and who expect land prices to be higher five years from now also decreased.

Only 15% of respondents indicated that their farm operations were better off in April than they had been a year ago. Looking ahead to the next 12 months, 28% expected worse financial performance, compared with 25% who expected better financial performance. The Farm Capital Investment Index fell 9 points to 44, its lowest level since October 2024, indicating a decline in willingness to make large investments.

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