Meanwhile, the Short-Term Farmland Value Expectations Index climbed to 124—its highest since March. More farmers now expect farmland prices to rise.
The May survey also explored trade views. While nearly half of producers “strongly agreed” with free trade benefits in 2020, only 28% felt the same in May 2025.
Concerns about tariff impacts have eased, with only 43% seeing them as harmful to farm income, compared to 56% in April.
Labor availability also emerged as a concern. Of the 51% of producers who hire nonfamily labor, 26% expect trouble finding workers due to immigration changes.
“Costs have inflated a lot, and our commodity price is down about 40% in the last three years… and that is a very bad combination when you add a trade war to it,” said one producer.
Despite investment hesitancy and labour worries, U.S. farmers are showing renewed optimism for the agricultural economy.