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(Dave Bedard photo)
Markets

Rate of rise in farmland value ‘surprised’ in 2021

Canada books 8.3 per cent year-over-year increase, FCC reports

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MarketsFarm — Despite a year of economic uncertainty due to extreme weather, reduced crop yields and the COVID-19 pandemic, the value of Canadian farmland rose by its highest rate in four years, according to a report from Farm Credit Canada (FCC). FCC’s report, released Monday, revealed that the national average value of farmland increased by
Hay West gets funds to ship more bales
News

Hay West gets funds to ship more bales

The CFA-headed campaign is one of a few projects of farmers helping farmers through hay relief

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A $75,000 shot in the arm will help ‘Hay West’ send more bales to struggling farmers, the Canadian Federation of Agriculture (CFA) said. “CFA hopes these gestures of financial support will spur further contributions, as the drought in Western Canada has been extremely lengthy and resulted in a dire need for hay,” the organization said
“When we ask people to pay market value, they are only going to do that if they believe in their own ability to grow that operation.” – Tom Deans.
Farmit Manitoba, Other

Don’t give away the farm, says transition expert

Encourage children who want to farm to start buying in early, said Tom Deans

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Don’t gift the farm to your children, but make them buy it at full market value, says one intergenerational wealth expert. “When we take shortcuts with the valuation and offer discounts to the family, we damage the confidence of the next generation. We actually undermine their authenticity,” said Tom Deans. Deans, an author and business
High prices can skew cost of production, and if inflation returns in earnest, so could higher rates.
Farmit Manitoba, Markets, Other

Price spikes can bring input cost risks

History highlights what can happen if market events suddenly make the current debt-to-income ratio untenable

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Commodity prices have been strong for the past eight months. It’s been a boon for growers, though prolonged periods of decent returns can skew the cost of production. Canadian growers could be open to significant financial hardship if they see sustained price reductions or major production challenges like those experienced in the 1970s and 1980s,
If inflation returns in earnest, so could higher rates.
Farmit Manitoba, News, Other

Interest rates biggest farm finance risk

Farm Credit Canada says the pace of debt growth has slowed but farmers need to have an interest rate risk management plan

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The expansion of Canada’s farm debt continued, but at its lowest pace in six years. Meanwhile Farm Credit Canada’s chief economist says that the potential for higher interest rates is the “darkest cloud” in that otherwise optimistic picture. Statistics Canada data showed outstanding Canadian farm debt increased by 5.9 per cent to $121.9 billion as
FCC’s Marty Seymour reflects on the impacts of COVID-19 on the agricultural industry.
News

Agriculture learned its COVID lessons — and quickly

Now is the time to start positioning the sector for the coming recovery

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The agriculture industry was hit hard by the pandemic. Early on, it became apparent that the sector needed to make changes in order to address the situation. But a year later, by many accounts, the Canadian agriculture sector has adapted effectively — spectacularly, even. This past winter at the Farm Forum conference, Marty Seymour from
(Dave Bedard photo)
Markets

Farmland appreciation continues through pandemic year

FCC report puts Canada's average land value increase at 5.4 per cent

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Economic churn across Canada from the global COVID-19 pandemic didn’t faze the country’s real estate market — nor its farmland market in particular — in 2020, according to the latest review from the federal farm lending agency. Farm Credit Canada on Monday released its 2020 Farmland Values report, showing an average increase of 5.4 per
fcc
News, News & Opinion, Other

Manitoba farmland values higher again in 2020

FCC says, on average, this province's land prices rose 3.6 per cent versus 5.4 per cent nationally

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Average Manitoba farmland prices were up 3.6 per cent in 2020, slightly below the Canadian average increase of 5.4 per cent Farm Credit Canada (FCC) announced in a news release Monday. A combination of low interest rates, which cut the cost of borrowing money to buy land, and higher farm cash receipts, especially for crops,
Farm Credit Canada’s chief economist says the agriculture sector is well positioned for the future.
Farmit Manitoba, News

Agriculture after the pandemic

It’s a whole alphabet of recovery options, FCC’s chief economist says

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With COVID-19 vaccines rolling out for worldwide distribution and immunization on the horizon, now hopes turn to putting the virus in the rear-view mirror and rebuilding a battered global economy. That’s almost certainly going to mean enduring a sharp recession, says J.P. Gervais, chief economist for Farm Credit Canada. Speaking at the virtual Manitoba Agronomist
Farm lender delivers ebullient view of Manitoba ag
News

Farm lender delivers ebullient view of Manitoba ag

Farm Credit Canada’s Darren Howden says agriculture is faring much better than many other industries

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Manitoba’s agriculture industry is generally financially fit, a senior executive with Farm Credit Canada (FCC) told the Keystone Agricultural Producers’ (KAP) online annual meeting Jan. 26. “Grains and oilseeds are doing really well,” Darren Howden, FCC’s senior vice-president of Prairie operations,” told KAP members. “That’s the sector we have the most business in, in Manitoba. There was a really

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