Higher commodity prices were not enough to boost U.S. farmers’ sentiments in September as higher input costs weighed on growers’ mind, while many are also concerned about growing competition from Brazil, according to the September edition of the Ag Economy Barometer (AEB).
Each month, Purdue University and CME Group surveys 400 farmers for their views on a number of issues to get a sense of the health of the U.S. ag economy. The September survey also asked farmers about their concerns on competition from Brazil growers and about their sustainable farming practices.
A measurement of health of the ag economy, the AEB index dropped from 135 points in August to 123 points in September. Similarly, the Farm Financial Performance Index dropped from 103 in August to 90 in September.
Additionally, less than half (48%) of farmers said that the country was heading in the right direction – the lowest level since Purdue and CME Group started asked this question in July 2025.
Most farmers (52%) cited higher input costs as their biggest concern, while 54% of said it was the number factor hindering their farm’s finances. This is despite higher corn and soybean prices, which is providing some relief from the higher prices.
Brazil competition concerns lessen, cover cropping takes root
However, U.S. farmers were slightly less worried about competition with Brazil in September than they were at the end of last year.
Most soybean and corn farmers (80.2%) were concerned or very concerned about U.S. soybean competing with Brazilian counterparts, compared to 84% who said the same in the Dec. 2025 edition of the Ag Economy Barometer.
More than a third (37%) of corn and soybean growers said that exports will increase in the next five years, while 10% said they will decline, according to the AEB.
This comes as Brazil is weeks away from electing its next president with right-wing and agribusiness friendly candidate Flávio Bolsonaro favored to win. The Brazil presidential election is heading to a run-off after neither Flavio nor the current president, Luiz Inácio Lula da Silva, were able to gather the 50% of the vote that was required.
Lastly, the AEB reported that almost half (46%) of corn and soybean producers’ are currently planting a cover crop, while an additional 22% said they have done so in the past. Nearly a third of growers have planted a cover crop for more than 10 years and 15% plant a cover crop on most of their farmland.
