Reading Time: 5 minutes How expensive is Alberta farmland? Try double what it was just five years ago. “Over the last five years, we’ve seen cash farm receipts going up across the country and especially in Alberta,” said Joel Bokenfohr, manager of business structures and financial policy with Alberta Agriculture and Forestry. “We have a strong farm economy where […] Read more
Farmland prices double in last five years
Many farmers thought prices were out of whack in 2013, but time has proven they were wrong
Cargill revamping Lethbridge elevator
Reading Time: < 1 minute Cargill is expanding its rail facilities at its Lethbridge elevator. The $20-million project will more than double loading capacity and is expected to be complete midway through harvest 2018, the company said. “The industry standard for rail capacity is increasing, and this project will ensure that Cargill Lethbridge is more than meeting the standard,” said […] Read more
Richardson International buys Eagle Agro Services
Reading Time: < 1 minute Richardson International has acquired Eagle Agro Services, a full-service, retail crop inputs outlet in Veteran in east-central Alberta. The family-owned business was established in 2002. “We are excited to expand our business into a new geography as Veteran is a new marketplace for us,” said Tom Hamilton, Richardson’s vice-president of agribusiness operations. The company will […] Read more
Consider ways to protect against price drops of crops, says analyst
The Spring Price Endorsement offers protection but now has a deductible
Reading Time: < 1 minute There are some changes to the Spring Price Endorsement this year. The Spring Price Endorsement (SPE) is a supplementary election to production insurance at the 60 to 80 per cent coverage level. It provides some protection against a price drop for an insured crop. A spring price is set for each crop during the winter, […] Read more
Deadline approaching for $1,500 scholarships
Application deadline is May 31
Reading Time: < 1 minute Grade 12 students heading off to college or university this fall to study agriculture or a food-related field are eligible to receive a $1,500 scholarship from the Monsanto Fund Opportunity Scholarship Program. The program will award 65 scholarships to eligible students. Most will go to young people from farm families, but up to 25 scholarships […] Read more
AFSC lowering crop insurance premiums this year
The provincial crop insurer says it is reducing premiums by an average of eight per cent
Reading Time: < 1 minute Agriculture Financial Services Corporation is lowering crop insurance premiums. “On average, 2018 premium rates for crops are eight per cent lower than they were in 2017,” AFSC said in a news release. “The decrease in premium rates is a reflection of the generally good growing conditions over the past few years, which resulted in positive […] Read more
They just keep coming — another new elevator going up
New 42,000-tonne grain terminal marks G3’s first, but not last, foray into Alberta
Reading Time: 3 minutes G3 Canada is expanding west with two new elevators on the Prairies — including its first in Alberta. The new elevator to be built in Westaskiwin will be a state-of-the-art, high-throughput facility, said the company’s vice-president of business development. “Alberta is a province of growth for us,” said Brett Malkoske. “Since we formed G3 (in […] Read more
What’s fair when it comes to renting farmland?
There are two common methods for determining fair rent — and neither involves coffee-shop talk
Reading Time: 2 minutes How do you know if the rent you’re paying — or charging — for farmland is fair and reasonable? “Often, people use what others are charging or paying in the local area,” said farm business management specialist Dean Dyck. “Following this approach has pitfalls because the rate may not be reflective of the soil productivity […] Read more
Find the key numbers that tell the tale
Using financial indicators and benchmarks gives you the straight goods on how your operation is doing
Reading Time: 2 minutes Some easy-to-calculate ratios can give you a quick idea of the health of your farm or ranch. “The Simple Farm Ratio Analyzer is a shortcut Excel program that takes just eight key financial entries and calculates financial ratios for the farm/ranch and colour codes them in comparison to industry benchmarks,” said Rick Dehod, a provincial […] Read more
Dodging the taxman may be costing you
Paying some tax makes sense, but cash deferrals and pre-buying inputs don’t always, says accountant
Reading Time: 3 minutes Some of the farmers Rob Strilchuk works with seem to think that $1 is too much tax to pay. “I have clients who spend $100 to save $15 in tax,” said the MNP accountant. “I get it. I don’t want cash to go to Revenue Canada for any of my clients, either. But there is […] Read more
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