WEST LAFAYETTE, IN – Farmer sentiment weakened in April as concerns about input costs and availability continued to weigh on outlooks. Purdue University’s Michael Langemeier and Joana Colussi said the Ag Economy Barometer fell from 127 in March to 121 in April, with the sharpest drop coming in producers’ view of current conditions.
The Current Conditions Index fell 11 points, while the Future Expectations Index slipped 4 points. High input costs remained the top concern, with 46 percent of respondents citing it, and the share citing input availability as their biggest worry rose from 11 percent to 14 percent.
Producers also became more cautious about their own operations. Only 15 percent said their farms were better off than a year ago, and more producers expected worse financial performance over the next 12 months than expected better results. The Farm Capital Investment Index dropped 9 points to 44.
The conflict in Iran was another pressure point. About two-thirds of respondents said they expect the conflict to reduce net farm income in 2026, and many corn producers expect break-even prices to rise due to impacts from fertilizer and natural gas.
Langemeier and Colussi also found weakening confidence in long-term conditions, including lower expectations for farmland values and a smaller share of producers saying the country is headed in the right direction.
Farm-Level Takeaway: Purdue’s April survey suggests farmers are getting more cautious as input costs, availability, and margin pressure stay front and center.