Sales of ag equipment could decline by up to 15 per cent in Canada because of slumping grain and oilseed prices
Farm Credit Canada recently released a farm machinery market outlook for 2024, and the news isn’t all that great for Canadian equipment dealers, especially when it comes to harvesting equipment. Despite new combine sales growing 5.5 per cent in 2023 in Canada compared to 2022, according to the Association of Equipment Manufacturers (AEM), the FCC […] Read moreTag Archives Farm Credit Canada
Agri-Spirit Fund takes applications
Farm Credit Canada is accepting applications from registered charities, non-profit organizations and First Nations, Métis and Inuit governments/communities in rural Canada for the FCC AgriSpirit Fund. The fund supports capital projects that enrich the lives of residents in communities with fewer than 150,000 people. A total of $1.5 million in funding is available. Projects can […] Read more
Ag sector fears Senate bill’s effect on lending
Private member’s bill would require financial institutions to align their lending decisions with government’s climate goals
A coalition of 17 major farm groups is opposing a bill that would tie the decisions of lending institutions to Canada’s climate goals. The Agriculture Carbon Alliance, which pushes for recognition of farm sustainability, argues that Bill S-243 could lead to higher borrowing costs and more red tape for farmers. Bill S-243, the Enacting Climate […] Read more
FCC dismisses head office relocation claim
REGINA — Farm Credit Canada says rumours that its head office is leaving Regina are just that. Saskatchewan United Party leader Nadine Wilson raised the issue during question period in the Legislature May 2, asking the government what it was doing about the pending move to Montreal. Deputy premier Donna Harpauer said she had not […] Read more
Farm debt has room to grow
At the end of 2017, Canadian farm debt topped $100 billion. At the time, it was a bigger number than the national debt of 135 countries, noted Country Guide columnist Gerald Pilger. As of 2022, the most recent year on Statistics Canada’s published record, it reached $138.9 billion. Interest rate increases since early 2022 also […] Read more
Prairie farmland values continue to increase
Farmland is still getting more expensive, but not quite as quickly as in recent years, according to the latest farmland value report from Canada’s biggest agricultural lender. Farm Credit Canada put average national farmland value growth in 2023 at 11.5 percent, down from 12.8 percent in 2022. “We’re seeing a little bit of a pullback,” […] Read more
Man. pasture prices may be underestimated
Nailing down an ‘average’ value for pastureland can be difficult because some pastures are desirable and some are not
WINNIPEG — A recent report from Farm Credit Canada suggests that pastureland in Manitoba is valued at $500 to $700 per acre, on average. Those estimates seem low to Ben Hamm, farm management specialist with Manitoba Agriculture. Hamm, who raises cattle in southeastern Manitoba, said land prices in his region are much higher than $500 […] Read more
FCC report shows farmland values still rising
Farm Credit Canada’s Farmland Values Report for 2023 had some surprises as well as some head scratchers. Saskatchewan’s farm income levels have been very strong, but it was still a bit surprising to see the province lead the rest of the nation with a 15.7 percent increase in cultivated farmland values, ahead of Manitoba at […] Read more
Calmer dairy waters predicted for upcoming year
Farm Credit Canada says stress factors pressuring the industry such as borrowing and feed costs should ease in 2024
Glacier FarmMedia – A recent outlook released by Farm Credit Canada says there’s room for optimism in the dairy sector. “It has been a volatile few years for dairy producers, but 2024 is shaping up to be calmer — a return to a more normal environment, if you will,” FCC senior economist Graeme Crosbie said […] Read more
Economic hazards identified
Glacier FarmMedia – Farm Credit Canada predicts a bit of a rocky road ahead for Canadian farmers, with input prices high, commodity prices low and interest rates not expected to drop in the short term. “The sentiment of the industry is not the greatest right now,” said Desmond Sobool, FCC’s director of economics and deputy […] Read more
