Producers are less optimistic about both current conditions on their farming operations as well as their expectations for the future.

The Purdue University/CME Group Ag Economy Barometer saw a significant decline in May, down 20 points to a reading of 158.

Ninety-five percent of respondents are concerned that changes in tax policy will make it more difficult to pass the farm to the next generation.

Farmers continue to report strong current economic conditions on their farms, according to the February Purdue University/CME Group Ag Economy Barometer.

The Index of Future Expectations has fallen 19 percent since October, while the Index of Current Conditions rose 12 percent over the same time period.

The Purdue University/CME Group Ag Economy Barometer rose to 183 in October and set an all-time high for farmer optimism on the index.

Farmer sentiment hit a post pandemic high in September, according to the Purdue University/CME Group Ag Economy Barometer.

Increases in the barometer and its two sub-indices marked the most positive readings since February 2020 due to rally from commodity prices.

Farmer sentiment was virtually unchanged in July in comparison to a month earlier, according to the Purdue University/CME Group Ag Economy Barometer.

Farmer sentiment improved slightly in May after falling sharply in both March and April, according to the Purdue University/CME Group Ag Economy Barometer.