Farmer sentiment slips again as high input costs remain top concern in Commodity News 04/06/2026 Farmer sentiment declined slightly in May as the Purdue University/CME Group Ag Economy Barometer fell to 119, down from 121 in April. May’s results indicated mounting concern about rising input costs and financial pressures, setting new highs and lows for the survey. Although the Future Expectations Index increased by 1 point, the Current Conditions Index dropped 8 points from April, falling to its lowest level since December 2024. At 51%, high input costs were identified by respondents as their top concern, reaching a record high. Additionally, 46% said that high input costs are limiting improvements in their financial position this year. The survey was conducted among 400 farmers across the nation from May 11-15. Financial outlooks remained cautious in May. Only 14% of respondents reported that their farm operations were better off financially than a year ago, while 22% said they expect conditions to improve over the next 12 months. The Farm Capital Investment Index dropped by 3 points to 41, marking its lowest level since September 2024 and suggesting a reduced willingness to make large investments. “The persistence of high input costs is especially challenging in an environment where many producers are already operating with tighter margins,” said Michael Langemeier, the barometer’s principal investigator and director of Purdue’s Center for Commercial Agriculture. “When producers see fewer opportunities to improve their financial position despite strong operational management, it tends to weigh heavily on perceptions of current conditions and investment plans.” Following April’s lead, this month’s survey included questions related to the impact of current events on net farm income and corn break-even prices in 2026. Approximately two-thirds of respondents said they expect their farm’s net income to be reduced in 2026. Among respondents who planted corn in 2025, near