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Farm equity, asset values up in 2023: StatCan

Farms' ability to pay debts declined but balance sheet remains strong

The total equity of the Canadian farm sector rose nearly eight per cent in 2023 while farm assets rose more than seven per cent according to Statistics Canada’s 2023 balance sheet.





File photo of grain bins in Saskatchewan. (Chinaface/iStock/Getty Images)

Most Canadian grain stocks tighter than a year ago

For many of Canada’s major crops, their holdings came in lower than a year ago, as Statistics Canada released its stocks of principal field crops as of March 31 report. There were declines in all wheat, durum, oats, corn, lentils and peas, but there were increases for barley and canola while soybeans were relatively steady.

(Photo courtesy Canary Seed Development Commission of Saskatchewan)

Canary seed growers optimistic for 2024

David Nobbs, chair of the Canary Seed Development Commission of Saskatchewan and pulse merchant for Purely Canada Foods, said exports are on pace for 110,000 to 120,000 tonnes in 2023-24, compared to 150,000 to 160,000 in a typical year. Statistics Canada (StatCan) projected 125,000 tonnes of exports for 2023-24, compared to 147,000 the previous year.



File photo of a lentil crop before harvest in Saskatchewan. (Bobloblaw/iStock/Getty Images)

Canadian pulse plantings to rise in 2024

Canadian lentil area is forecast to be up by 4.4 per cent on the year, at 3.829 million acres, according to the estimates of principal field crops report released by Statistics Canada on March 11. After conducting a survey of producers in December and Janyar, StatCan forecast pea area in 2024 at 3.122 million acres which would be up by 2.4 per cent on the year.