Big Rebounds in Store for Spring Wheat, Canola Output

Aug 18, 2022

This year’s Canadian spring wheat harvest could be the largest in nine years, while canola output may match the fourth highest ever, the results of a recent crop tour show.

Argus Media and Winnipeg-based LeftField Commodity Research partnered on the two-pronged tour, which covered a combined more than 4,000 km of Prairie farmland over a five-day period earlier this month. Based on a mix of random field sampling and input from producers along the way, the results of the tour were discussed in an Argus-sponsored webinar Thursday.

Maxence Devillers, a grain analyst with Argus Media, pegged this year’s average spring wheat at 53.2 bu/acre, up almost 17 bu or 46% from last year’s drought-ravaged result. Using Statistics Canada’s latest planted area estimates, that translates to a crop of just over 26 million tonnes - an increase of approximately 10 million tonnes from a year earlier and potentially the largest spring wheat crop since producers reaped 27.2 million tonnes in 2013.

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Video: Cheapest States to Buy Farmland in America

The United States has more than 895 million acres of farmland, which includes all rural land tied to farming operations, from highly fertile Midwest cornfields to vast grazing ranges in the West, as well as the undeveloped rural land, which is often sold as ranches, homesteads, or uncultivated lots. Nowadays investing in rural land is very lucrative even billionaires like Bill Gates, Jeff Bezos, and Warren Buffett have bought up thousands of acres of farmland across America. In contrast to investors, agricultural companies, and business moguls, some buy farmland for their own requisites, like starting a small farmstead, creating a cottage, and becoming self-resilient. In this video we have ranked the top cheapest states to buy farmland according to the per-acre land value, which is accumulated from the United States Department of Agriculture. The USDA’s per-acre land values come from an annual survey, which is cross-checked with actual sales data, appraisals, and market trends to ensure accuracy. So here are The top Cheapest States to Buy Farmland.