The U.S. isn’t the only country seeing a decline in ag equipment purchases. Brazil saw a double-digit percentage drop in tractor sales in November. That’s according to data from the Association of Equipment Manufacturers. Total tractor shipments in the country were down five percent on an annual basis last month. Sales of high-horsepower and low-horsepower tractors were down 15 percent year over year in November, which followed another ten percent decline in October. 

High-horsepower tractor sales in Brazil plunged 28 percent in November and are down 15 percent year to date, according to a report from Truist Securities. Deere said it expects flat year-over-year tractor and combine sales in South America, AGCO said it expects modest growth in South America in 2026, and CNH said industry volumes will be flat. “Demand remains uncertain, due in part to the U.S.-China trade agreement, high interest rates, and strong crop yields,” Truist added.

The U.S. isn’t the only country seeing a decline in ag equipment purchases. Brazil saw a double-digit percentage drop in tractor sales in November. That’s according to data from the Association of Equipment Manufacturers. Total tractor shipments in the country were down five percent on an annual basis last month. Sales of high-horsepower and low-horsepower tractors were down 15 percent year over year in November, which followed another ten percent decline in October. High-horsepower tractor sales in Brazil plunged 28 percent in November and are down 15 percent year to date, according to a report from Truist Securities. Deere said it expects flat year-over-year tractor and combine sales in South America, AGCO said it expects modest growth in South America in 2026, and CNH said industry volumes will be flat. “Demand remains uncertain, due in part to the U.S.-China trade agreement, high interest rates, and strong crop yields,” Truist added.-NAFB

Ag equipment sales are also falling outside the U.S.