There has been lots of buzz the past several weeks about rising farmland values. Some media coverage came from Farm Credit Canada’s annual report on land prices, released March 23. Lots of talk has been generated by the fact land prices in many parts of Canada have recently been caught up in a similar frenzy to the one gripping the housing market.
Lost in some of the coverage of the FCC report was an important follow-up comment: “Despite low interest rates and high farm revenues in 2020, affordability was at its second-lowest level in the last 20 years.”
“July is on the verge of setting a new record for dryness – and it’s showing on farmers’ fields. The Agricultural Producers of Saskatchewan (APAS) said many crops are suffering due to hot weather and a lack of moisture.”