Canada Markets

Statistics Canada reported total farm cash receipts for 2021 at a record $81.920 billion, up $9.896 billion or 13.7% from the previous year and higher for an 11th consecutive year. Statistics Canada reports a 9.2% increase in crop receipts, a 13.4% increase in livestock receipts and a 71.8% increase in direct payments which reached $5.9 billion, largely crop insurance payments.

Total crop receipts are shown at a record $46.049 billion, reported higher for a seventh consecutive year. As a percentage of total receipts, crop receipts make up 56.2% of total receipts, down from 58.5% achieved in 2020, which was the highest percentage seen in data going back to 1970.

At the same time, crop receipts include vegetables, fruit, cannabis, Christmas trees and various other crops. When cash receipts are totaled for all major or principal field crops, 2021 receipts total $32.269 billion, a record level that accounts for 70.1% of total crop receipts, up 1 percentage point from 2020.

The year-over-year increase in receipts for the principal field crops is $3.122 billion, which is shown as the total year-over-year change for principal field crops, or the first blue bar on the attached chart. Of the select crops shown, wheat accounts for a $978.789 million change, while canola accounts for $1.786 billion. These two crops (excluding durum) account for $2.766 billion or 88.6% of the total increase from 2020 to 2021. Of the crops shown, three crops, or soybeans, peas and lentils, show a year-over-year drop in cash receipts.

The brown line with markers represents the receipts for principal field crops as a percentage of total farm receipts. The highest marker at 39.4% represents total principal field crop receipts as a percentage of total farm receipts. Wheat accounts for 8.7% of total receipts while combined with durum, makes up 11.3% of receipts. Canola is the highest of all crops is canola at 14.7% of total farm cash receipts. Of the crops shown, seven range from .9% (oats) to soybeans (3.6%).

Cliff Jamieson can be reached at cliff.jamieson@dtn.com

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