Reading Time: 7 minutes A prominent Canadian ag lender is projecting a 4.8 per cent decline in farm cash receipts in 2024, due in part to a softening market. Consequently, its leading economist is urging producers to find any way to save money. “In this environment, I do think that management skills are absolutely critical,” said J.P. Gervais, vice-president […] Read more
FCC projects profit loss in 2024
Hits expected on grain price, but economist ‘cautiously optimistic’ on interest rates and input costs
FCC predicts drop in farm cash receipts for 2024
Interest rates, inputs costs may come down but farmers urged to sharpen their pencils
FCC's top economist is urging farmers to find any way they can to save money, as the ag lender projects a 4.8 per cent decline in farm cash receipts in 2024 on the heels of lower commodity prices.
FCC announces new 4R incentive
The program is open to FCC customers who use AgExpert platform
FCC announced the new Sustainability Incentive Program at the Western Canadian Crop Production Show in Saskatoon. The program is open to FCC customers who put a 4R nutrient management plan in place, record production activities through AgExpert Field, and have their 4R practices verified by a 4R designated agronomist.
Interest rate relief on horizon: FCC
Central bankers signaling reductions are coming
Reading Time: 4 minutes Glacier FarmMedia – Canada’s largest agricultural lender says Canadian farmers can expect to see interest rate relief in the coming year. In a macroeconomic snapshot released in December, Farm Credit Canada said it expects to see rate cuts totalling 75 basis points (three quarters of a percent) in the latter half of 2024. That’s despite […] Read more
Merit Foods pays off operating lender, no deal yet for plant
Plant-based protein processor in receivership since March
A Winnipeg pea and canola protein processor in receivership since this spring remains mothballed for now with no firm buyer — but has paid off one of its three secured creditors. Merit Functional Foods, which entered receivership March 1 after just two years’ operation, has sold all its remaining finished and raw inventory and directed […] Read more
Alberta leads national foodservice recovery
Wild rose province sees largest spike in sales in national survey
Reading Time: 2 minutes Alberta leads the country when it comes to increases in food service sales, with 7.3 per cent growth, according to a recent report from Farm Credit Canada. The report states that sales in 2023 are back to pre-pandemic levels but below the pre-pandemic trend in most cases. Alberta is followed by Ontario at 5.3 per […] Read more
Ag productivity gain rate is shrinking
Canadian agriculture needs innovation, more flexible and accessible regulation
Reading Time: 2 minutes Canadian agriculture productivity is growing, but the rate of growth is slowing, agriculture and tech leaders heard Oct. 26. “The low-hanging fruits are gone,” said J.P Gervais, Farm Credit Canada’s chief economist. The comments came during a discussion with Fred Wall, FCC’s vice-president of marketing and digital agriculture, at the Agriculture Enlightened conference in Winnipeg […] Read more
Alberta farmland price growth lags national average
While prices continue to rise, the rate is slowing and other province have faster growth
Reading Time: 5 minutes Average Alberta farmland prices were up three per cent in the first half of 2023, significantly below the Canadian average increase of 7.9 per cent. The data, released in a Farm Credit Canada report on Oct. 3, shows the province is following a national trend. “It’s not unexpected, given where we were at the end […] Read more
FCC to offer beef heifer replacement loans
Loan program for those wanting to build, maintain herds
Cattle producers wanting to expand or maintain herds — in a time of nationwide herd contraction — are the expected beneficiaries for a new loan program from Farm Credit Canada. FCC on Tuesday announced what it calls the Replacement Heifer Program, consisting of a loan with a maximum loan life of seven years and a […] Read more
FCC offers new credit line against ‘current economic environment’
Ag lender to waive loan processing fees
Farm Credit Canada’s recent outreach to specific agrifood sectors hit by unusual environmental conditions has now extended to those hit by the broader “economic environment.” The federal ag lender on Tuesday said it will offer an unsecured credit line of up to $500,000 with loan processing fees waived, “to help producers, agribusinesses and agri-food operations […] Read more
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