For any farmer, focusing on learning and development allows them to continuously improve in a vast amount of areas. As agriculture evolves, so do agronomic practices, risk management tools, and technological advancements. By constantly learning and expanding their skillset, farmers can identify new opportunities, increase profitability, and productivity. Developing new skills can also improve problem-solving… Read More
Category: Finance
Farm Credit Canada’s (FCC) Sustainability Incentive Program is open to applicants in partnership with the Canadian Roundtable for Sustainable Beef (CRSB) and McCain Foods. The program pays out incentive payments calculated on a portion of a customer’s lending with FCC if they are also participating in specific certification programs, including the CRSB certification initiative and… Read More
After undergoing some major changes through the ’80s and ’90s, business risk management (BRM) programs for farmers across Canada have remained largely the same for the last two decades. While there have been a few tweaks to AgriStability and its siblings in the BRM family of programs, AgriInsurance, and AgriInvest, the risks that farmers and… Read More
Justine Hendricks is less than a month in to her role as president and CEO of Farm Credit Canada (FCC), but she says she’s already shook about 800 hands. Hendricks, speaking from FCC’s Kanata, Ont., office, says starting in prime farm conference season has been an excellent way to meet so many faces in the… Read More
Rabobank is a large food and agricultural lender based in the Netherlands that’s making a move in to the primary Canadian agriculture market. While not new to Canada — the company is celebrating its 25th year in the country in 2023 — the organization has only been lending to the agri-business and agri-processor market. Now,… Read More
For most farmers, accounting is not the most attractive part of the business. It’s integral to the farm’s success, but it requires time in the office or at the desk — not aways a favourite way to spend the day. That’s a key reason why Traction Ag appeals to farmers, says the cloud-based accounting software… Read More
The former governor of the Bank of Canada says he expects inflation will drop quicker than many are predicting and that real interest rates will remain low in the long term. Stephen Poloz shared his economic outlook during a keynote presentation at the CropConnect Conference in Winnipeg on Wednesday. Many of the economic parameters that… Read More
Rising interest rates mean the federal government’s move to expand the interest-free portion of its advance payment program will save farmers — and cost government — more than originally expected. Last June, the government increased the interest-free amount that farmers can borrow through the cash advance program for 2022 and 2023 from $100 thousand to… Read More
Each year, Canadian Cattle Young Leaders (CYL) selects 16 program participants ages 18-35 from across the country and offers industry networking, travel, and skill building opportunities. A focal point of the program is matching participants with a hand-picked mentor in their specific area of interest in the Canadian beef industry for a nine-month mentorship experience…. Read More
If the farm is waiting for the tax filing to sort out profit and loss, decisions are being made for close to a year, and maybe more, without a full financial picture. Budgeting may be up there on the favourites list with a root canal or unclogging toilets; it’s rare that someone really loves developing… Read More
On September 7th, the Bank of Canada announced a rate increase of 75 basis points bringing the overnight rate to 3.25 per cent. The move wasn’t a surprise to many, yet begs the question, are we done yet? The increase is designed to curb consumer spending and ultimately blunt inflation, however, consumer spending isn’t always… Read More
As autonomy and emerging technologies take centre stage in agriculture equipment, MNP is shining the spotlight on the importance of the basis of ag-tech: data collection and tracking. Andrew Van Os, field optimization program lead with MNP, was a keynote speaker at Ag in Motion 2022 and says comparing data year-over-year, such as soil samples… Read More
Could volatile be the new normal when it comes to commodity markets? With volatility being the only constant over the past while, it is certainly something that farmers and marketers are getting used to as they continue to try and navigate their way through fluctuating prices and variables that seem to be ever increasing. With… Read More
You can’t manage what you don’t measure, so the saying goes, but what you measure is just as important. If you aren’t familiar with KPIs — key performance indicators — this episode of Mind Your Farm Business is for you. Measuring the right things is just as important as the initial step to begin measuring… Read More
What goes up must come down, but if you’re waiting for deflation to begin any time soon, you may be in for a long wait. Inflation — and the increasing interest rates designed to put a pin in it — is top of mind for every economist right now, and Farm Credit Canada’s chief economist… Read More