Ag Economists
Monthly Monitor

A vetted group of agricultural economists provide a monthly read on the U.S. ag economy, tracked over time, providing a gauge on important industry drivers.

July 2026 · Latest report

July Report at a Glance

The July panel shows improving short-term sentiment, but little relief on the cost side. The Ag Economy Index rebounded to 61 from June's 50, while nearly seven in 10 economists expect 2027 input prices to remain flat or elevated and the same share expect operating-loan rates to move higher. As producers look toward 2027, debt repayment and credit stress are emerging as the indicators to watch.

View the July Report →
Outlook
"Better sentiment, unmoved costs."
Fifty-six percent say the ag economy is better off than a month ago, but input and borrowing costs remain stubborn. The panel sees some improvement in conditions without a meaningful easing of the pressure facing 2027 budgets.
Ag Economy Index
61
the July reading, up 11 points from June
The index rebounded from 50 on a much stronger month-over-month read.
2027 Input Costs
69%
expect input prices to stay flat or elevated
Another 19% expect prices to keep climbing, while none foresee significant relief.
Farmland Values
13%
say a farmland correction is beginning
A 56% majority expects values to plateau without declining, while another 31% expect current values to hold.
Debt stress is the indicator to watch. Economists are increasingly focused on loan delinquencies, repayment behavior and farm operating debt as the clearest signals of whether financial pressure is building.


Insights & analysis

News Coverage

From tariffs and trade to the possible impact of President Donald Trump’s plan to cut regulations and taxes, ag economists surveyed in the latest Ag Economists’ Monthly Monitor weigh in on the main factors driving the ag economy in 2025.
Trump recently signed three executive orders imposing tariffs on Canada, Mexico and China. This marks the first time a president has used powers granted under the International Emergency Economic Powers Act of 1977.
From trade and deregulation to alternative land uses and cash rent prices, ag economists have no shortage of issues on their radar for 2025.
The eroding health of the overall farm economy was the emphasis of the latest Ag Economists’ Monthly Monitor, which is a survey of nearly 70 leading agricultural economists from across the country.
Yes, the Fed is cutting interest rates but the agency can only influence mid- and long-term rates. Concerns about inflation are pushing those rates back up again.




About the Ag Economist Monthly Monitor

The Ag Economists Monthly Monitor is administered by Farm Journal and published on AgWeb. Each survey is administered to a vetted list of agricultural economists from across the United States.

Three of those questions repeat every survey, so changes can be tracked over time: current conditions vs. the prior month, current conditions vs. a year ago and the panel's outlook for the next twelve months. The trend chart plots those three categories. The composite sentiment index is a rebase of the four response shares to a single 0–100 number.

Responses are anonymous. Economists give the unvarnished view they cannot always offer with their name attached, and the panel composition is broad enough to cover crop, livestock, policy and ag finance perspectives. Reporting and analysis are produced by the AgWeb editorial team and overviews are aired on AgDay, AgriTalk and U.S. Farm Report.

In the News

Media Coverage

Findings from the Ag Economists Monthly Monitor covered by national newsrooms, farm-country radio, and agricultural policy outlets.

National CoverageThe New York Times
War With Iran Puts Further Strain on America's Pessimistic FarmersMarch 12, 2026 · Business
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