According McKinsey's Global Farmer Insights 2022 report, released Dec. 14, 80% of North American farmers said higher input prices was one of their top "risks" over the next 2 years. Another 39% said increased overhead and processing costs was a top risk and 38% said supply chain disruptions and unavailable inputs was a top risk.
Another 53% of North American farmers said they purchase at least one product for their farm operation digitally. Replacement parts and equipment maintenance services were among global farmers' top picks for products they expect to purchase online over the next 2 years.
When it comes to adopting technology, the survey found47% of North American farmers are currently using or plan to use farm management software within the next 2 years; another 28% said the same about precision hardware.