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If inflation returns in earnest, so could higher interest rates that could impact your farm's financial health.
News

Interest rates biggest farm finance risk

Farm Credit Canada says the pace of debt growth has slowed but farmers need to have an interest rate risk management plan

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Reading Time: 2 minutes Glacier FarmMedia – The expansion of Canada’s farm debt continued, but at its lowest pace in six years. Meanwhile Farm Credit Canada’s chief economist says that the potential for higher interest rates is the “darkest cloud” in that otherwise optimistic picture. Statistics Canada data showed outstanding Canadian farm debt increased by 5.9 per cent to […] Read more
If businesses took no risks, they most likely would never grow or expand. Farms are no different, but what are you prepared to pay to cover that risk and how will you do it?
Guide Business, Management

A word about your farm

Financial fluency is paying off for farms who learn the lingo

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Reading Time: 7 minutes A growing number of financial advisors are talking a different language today than they were 10 or 15 years ago. Increasingly they see that the financial health of the farm goes way beyond the numbers on the balance sheet or income statement. They know those numbers are underpinned by some basic fundamentals that require sound […] Read more
Features, Guide Business

From bad to worse, to better again

How one farm couple and their financial advisor restructured significant debt to dig them out of dire financial circumstances

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Reading Time: 6 minutes Art Lange, left, walks the field edge and says that in an ideal world, every farm would make money every year and every farm manager would always make the best financial decisions. But it’s not a perfect world. Well-kept financial records help. So do staying on top of production costs and following a budget, but […] Read more
Farm kids often get plenty of experience on the production side of the business, but aren’t taught about budgeting or financial statements.
Guide Business

How to make your kids more financially literate

Don’t overlook how powerful it is to teach your children about managing money on the farm

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Reading Time: 4 minutes Financial literacy is essential for everyone, but it is particularly critical for farmers. Defined as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being,” it’s a must in modern agriculture. Parents agree. They want their children to be financially independent. Yet Stephanie Szusz, who works in […] Read more
Farmer in field
Guide Business, Management

Farm fit

Maybe the phrase “Standardized Financial Benchmarks for Canadian Farm Financial Statements” doesn’t instantly get your blood pumping. But read on. Could this be the tool that lets you control your future?

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Reading Time: 8 minutes Like many others, Larry Martin is convinced that Canada’s agriculture is evolving far faster than anyone driving a few miles of country sideroad could guess. The scenery hasn’t changed. At least, it hasn’t been transformed. It’s still a patchwork of crisp farmsteads and open fields, and of barns and bins. But those who live here […] Read more
Last year, Statistics Canada revealed Canadian farm debt exceeds a record $100 billion dollars.
Guide Business, Opinion

Borrowing our way to prosperity

Is it healthy for Canada’s farmers to have more debt than 130 of the world’s national governments?

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Reading Time: 5 minutes Farmers and the ag industry love to set records. They drool over variety yields, bushels per acre, acres per hour, rates of gain, and any other metric that might portray them as more productive, efficient or simply better than their competitors. Yet barely a word was mentioned last spring when Statistics Canada revealed Canadian farm […] Read more
Guide Business

Is it time to rethink your farm debt?

Debt has soared with farm income. For most farms, that’s good. But what about yours?

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Reading Time: 5 minutes Over the past decade, the consensus among Canada’s ag economists has been clear. Yes, farmers have accumulated more debt than ever. But the debt load is manageable. There’s no looming crisis. Now, however, with the prospect of a series of modest interest rate hikes, can we still be so complacent? First, let’s look at the[...]
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It cost him his ’67 Cougar, and it wasn’t the only time he’d get burned, but Dennis Pashovitz feels his farm emerged stronger for the lesson.
Guide Business, Marketing

Taking on the market

Options, futures or forward contracts? Two farmers search for sustainable income

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Reading Time: 9 minutes Options, futures or forward contracts? Two farmers search for sustainable income Dennis Pashovitz calls it his ’67 Cougar moment. It was the late 1990s and the grain farmer at Arelee, an hour west of Saskatoon, needed cash to open a trading account. The only way to learn about marketing, he was convinced, was to play[...]
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Spouses are realizing that farm operations require a much more structured business planning approach.
Guide Business

Between spouses

Formalizing the informal partnership

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Reading Time: 3 minutes Joint ownership between spouses has been a long-standing fixture in the farming community, with each holding equal influence when it comes to making key business decisions. It is widely acknowledged and recognized that spouses are key influencers in business decisions. They have always stood front and centre in financial negotiations, are equal participants in professional[...]
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