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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,
A view from Globeways Canada’s office at Mississauga, Ont., from a 2011 video marking the presentation of the Mississauga Board of Trade’s award for Small Business of the Year. (MBOT video screengrab via YouTube)
Crops, Pulses

Suspended pulse crop handlers partly reinstated

Companies can't buy or receive more grain from growers

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Three suspended pulse and special crop handling and processing companies are again licensed to move Canadian grain — but not to buy any. The Canadian Grain Commission announced Monday it has reinstated the licences for Globeways Canada Inc. and its subsidiaries: Canpulse Foods Ltd., a pulse and canary seed processor at Kindersley, Sask., and Global
(Dave Bedard photo)
Markets

FCC identifies export, market opportunities for Canadian food

The ag lender's latest report highlights canola oil, pork, potato products, crab meat

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Canada is already a major exporter of agricultural goods, food and beverages — but increasing food and beverage exports is still one of Canada’s biggest trade opportunities, Farm Credit Canada (FCC) says. And by diversifying exports, farmers will become less dependent on current major markets, reducing their financial risk. “When borders close for any number
File photo of a sunflower crop in Manitoba. (MysticEnergy/Getty Images)
News

KAP seminar to give lay of post-COVID economic land

ECONOMY: There’s much to tell farmers about a global recession, but there’s also room for optimism, FCC’s Marty Seymour says

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An upcoming webinar aims to make sense of the economic and agricultural landscape as the world continues to grapple with COVID-19. On July 7, FCC chief economic J.P. Gervais and Marty Seymour, FCC’s director of industry relations, will team up with Keystone Agricultural Producers to present a webinar titled “Adjust your business for success in
(Dave Bedard photo)
Markets, Weather

Canadian farmland trending less affordable in FCC report

Average values continue rising across board

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The average value of farmland in Canada is continuing to rise faster than farmers’ ability to generate revenue from it, Farm Credit Canada’s latest Farmland Values Report suggests. The report, released Monday, shows the average value of Canadian farmland rose 5.2 per cent in 2019 over 2018, the smallest year-over-year increase since 2010, and down
(Photo courtesy Canola Council of Canada)
Markets

Cash advance repayment deadlines extended

FCC gets added capital to boost lending capacity

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Canadian farmers who have repayment deadlines coming up on their cash advances between now and the end of April will get extra time to repay those loans. The federal government on Monday announced a stay of default on loans coming due on or before April 30 under the Advance Payments Program (APP), among other measures
(Greg Berg photo)
Crops

Machinery costs driving up fixed farming expenses

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MarketsFarm — Fixed costs on farms continue to rise year-over-year, a statistic largely attributed to increasing land values and interest rates. At the beginning of 2019, Farm Credit Canada (FCC) reported farmland values across Canada increased by an average of 6.6 per cent during the previous year. But that’s not the main driver of fixed
ICE Futures March 2020 canola with 20- and 50-day moving averages. (Barchart)
Crops, Markets

High stocks-to-use ratio weighs on canola

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MarketsFarm — The Canadian canola stocks-to-use ratio was over 20 per cent at the end of 2019 — significantly higher than the five-year average of 13.4 per cent. “That’s part of the reason why we’re seeing downward pressure on canola prices,” Craig Klemmer, chief agriculture economist for Farm Credit Canada (FCC), explained during his presentation
(Dave Bedard photo)
Crops, Markets, Pulses

Pulse weekly outlook: FCC sees opportunities for exports

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MarketsFarm — Farm Credit Canada (FCC) on Tuesday released a report titled Diversifying Canada’s agriculture exports, which included pulses and also looked at some of the pros and cons to diversifying Canada’s wheat, canola and soybeans. “Canada has done extremely well in establishing strong trade relations in a number of key markets thanks to a
(Dave Bedard photo)
Markets

Liberals pledge revamp of federal farm lender

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The federal Liberals’ platform heading into the Oct. 21 election calls for an “expanded and enhanced” role for Farm Credit Canada in supporting the country’s agriculture and agrifood sectors. Platform documents released Sunday last week (Sept. 29) call for the merger of several existing federal financial and advisory services — which the Liberals said are

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