Farm economics have been squeezed across the agricultural value chain. Yields have remained relatively strong, driving commodity prices down, but input costs have stayed high. Despite the turbulence, McKinsey’s Global Farmer Insights survey indicates that respondents in nearly all countries are open to future spending. That said, intent to spend has decreased meaningfully since 2024. The largest decline in net spending sentiment is in Argentina (49 percentage points), followed by Canada, India, and Brazil (29, 28, and 24 percentage points, respectively). Spain and France sit at opposite ends of the sentiment spectrum. This dynamic moment is raising the stakes for how agriculture players invest, innovate, and support their customers, say McKinsey’s David Fiocco, Owen Stockdale, Tom Brennan, Vasanth Ganesan, and their coauthors.
To read the report, see “Global Farmer Insights 2026,” September 8, 2026.