Farmer Sentiment Drops as Concerns About Input Costs Increase

The Purdue University-CME Group Ag Economy Barometer Index fell to 123 points in September from 135 in August, driven by farmer pessimism about input costs and near-term financial prospects. Record high input costs — cited by 52% of respondents — remain farmers' primary concern, with 54% saying high costs limit farm financial improvement. The Farm Financial Performance Index dropped to 90 from 103, though long-term farmland value expectations reached a new high of 168 points in the survey of 400 farmers conducted September 14–18.

Among corn and soybean producers, 73% expect cash rents to hold steady in 2027, while 46% currently plant cover crops. About 80% of respondents expressed concern about U.S. soybean competitiveness against Brazil, though 37% expect U.S. soybean exports to rise over five years. Farmland values remain supported by long-term optimism despite short-term financial headwinds.