On the heels of a sharp two-month decline, the Agricultural Economy Barometer stabilized at a reading of 134 in July, just 3 points below a month earlier. This month’s sentiment index was the weakest barometer reading since July of 2020 and marked a return to sentiment readings observed from 2017 through 2019 when annual average barometer readings ranged from 131 to 133. Purdue ag economists James Mintert and Michael Langemeier review the results and give some insight into the July 2021 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. This month’s survey was conducted from July 19-23, 2021.. The full report is available at https://purdue.ag/agbarometer.
Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.