Farmer sentiment improved in November. The Purdue University/CME Group’s Ag Economy Barometer rose last month, and Purdue Professor Emeritus James Mintert went through some of the findings.

“The Ag Economy Barometer Index rose ten points to a reading of 139, but that still leaves the index 19 points lower than it was in May, which was the index’s high point so far in 2025. The Current Condition Index fell two points to a reading of 128. That leaves the November Current Condition Index 18 points below the 2025 peak of 146 back in May. The Farm Financial Performance Index rose 14 points in November to 92, taking the index back near where it was in late summer.”

Farmers aren’t quite as optimistic about expanding their operations.

“The Farm Capital Investment Index fell six points to a reading of 56. The percentage of respondents who chose Good Times (to expand) fell to 16 percent. That’s down from 24 percent who chose that in October, while the percentage who chose a bad time to make investments fell two points to a reading of 60.”