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Farmland Values Increase During First Half Of 2020

A new report by Farm Credit Canada (FCC) shows the national average for farmland values increased an average of 3.7 per cent for the first half this year.
 
The increase is in line with mid-year results over the past five years, which showed single-digit increases for the full year.
 
“Given the global economic situation during the first half of 2020, Canada’s farmland market is showing remarkable resilience in the face of adversity and uncertain times,” said J.P. Gervais, FCC’s chief agricultural economist. “Changes to production and marketing plans induced by the pandemic have had a definite influence on profitability, yet the demand for farmland remained robust.”
 
Manitoba showed an increase of 2.3 per cent for the first half of 2020. Average farmland values have increased every year since 1993.
 
FCC says low interest rates, the limited supply of farmland in the market and confidence among producers in the farmland market appear to be the main drivers behind the 2020 mid-year increase.
 
“Despite supply chain disruptions that have impacted some sectors, such as red meat, the pandemic has so far not significantly affected the agriculture land market,” added Gervais. “In fact, the grain, oilseed and pulse sectors have performed well in the first half of 2020, supporting the slightly higher rate of increase in western Canada.”
 
Crop receipts (excluding cannabis) for the first six months of 2020 are 1.6 per cent higher than for the same period last year.
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Why Rob Saik is Trying to Build the World’s Most Connected Agriculture Network

Video: Why Rob Saik is Trying to Build the World’s Most Connected Agriculture Network

In a recent interview at the SeedLink Conference in Brandon, Man., Rob Saik, author, speaker, and CEO of AGvisorPRO, took a trip down memory lane, reminiscing about the beginnings of his career and what the future holds.

Graduating from the University of Alberta in 1983, Saik embarked on a journey that started in Brandon, Man. “I got a job with Elanko, got a U-Haul truck, threw everything I had into it, drove to the Victoria Inn, and lived there for three months while they tried to find an apartment for me to move into. So I started my career in Brandon,” Saik shared.

Fast forward to the present, Saik has evolved into an accomplished author and speaker, traversing the globe to engage in high-level discussions about the future of agriculture and the critical role it plays in feeding the world. Yet, despite his global presence, he finds himself back in Brandon, addressing a group of seed growers. But why? Saik emphasizes the fundamental importance of seeds, stating, “It all begins with a seed, doesn’t it?”

Reflecting on his own experiences as a farmer, Saik expresses his excitement when a planted seed germinates and evolves into a thriving crop. He underscores the significance of technology and breeding in seed development, recognizing the crucial role they play in ensuring farmers can propagate seeds, grow profitable crops, and contribute to global food security.

Saik delves into the challenges faced by the agricultural community, particularly the rapid pace of technological advancements. He believes that the key lies in connecting farmers to experts swiftly, boosting farmers’ confidence in adopting new technologies, and ensuring the timely implementation of these advancements. According to Saik, this approach is crucial for steering agriculture towards sustainability and profitability.

As Saik works on his upcoming book, tentatively titled prAGmatic, he sheds light on its central theme. “The thesis would be that I want to write a book that takes what the consumer wants, challenges what the consumer believes, and positions that against what the farmers can actually do pragmatically,” he explains. The book aims to bridge the gap between consumer expectations and the realistic capabilities of farmers, promoting sustainable intensification as the necessary path to feed the planet.

Looking ahead to 2024, Saik emphasizes the need for enhanced connectivity within the seed industry. He discusses his platform, AgvisorPro, which is designed to facilitate connections between farmers, experts, and companies in a way that transcends conventional social media platforms. Saik envisions a credible, connected agricultural network that goes beyond the noise of platforms like LinkedIn or Twitter.

In a passionate vision for the future, Saik imagines a tool for teachers that allows them to pose questions from students, answered by verified farmers and ranchers. This, he believes, would provide an authentic and valuable educational resource, connecting classrooms with individuals who truly understand the intricacies of agriculture.