(NAFB.com) – Farmers’ outlook improved in May as the Purdue University/CME Group Ag Economy Barometer Index rose to 108, a nine-point increase from April. The Index of Future Expectations climbed 11 points to 117, and the Current Conditions Index rose six points. The Future Expectations Index boost reflects farmers expecting conditions to improve, although it’s clear that 2024’s financial challenges are still a concern. A rise in crop prices from the April survey’s date to mid-May played a role in boosting farmer sentiment this month. By mid-May, Eastern Corn Belt corn prices had risen by two to three percent since the April survey was conducted. The Farm Financial Performance Index rose to 82 in May, up six points from April. The index asks producers to compare their farm’s expected financial performance to last year. Producers’ outlook on capital investments improved modestly, with the Farm Capital Investment Index up four points to 35.