Canada Markets

A look at Canada's 2017 Farm Cash Receipts

Cliff Jamieson
By  Cliff Jamieson , Canadian Grains Analyst
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This chart shows the trend in farm cash receipts, with the blue bars originating from the sale of crops and the orange bars the dollar value of livestock receipts, measured against the primary vertical axis. The yellow line shows the trend in crop receipts as a percentage of total cash receipts, measured against the secondary vertical axis. (DTN graphic by Cliff Jamieson)

Statistics Canada's Farm income, 2017 report was released on Monday, providing a glimpse of trends in farm financial data. Total farm cash receipts was reported at $61.6 billion, the seventh consecutive annual increase. The year-over-year increase is calculated at 1.8%, the second-smallest year-over-year increase seen in seven years, next to the 1.2% annual increase seen in 2016. Over the past five years, the year-over-year increase in total cash receipts averaged 4.1%, while over 10 years, has averaged a 5.2% annual increase.

Crop receipts were unchanged at $34.1 billion in 2017, the weakest year-over-year change shown in three years after increasing 6.6% in 2016, averaging 5.9% higher during the past five years and 9.2% higher over the past 10 years. Crop receipts accounted for 55.4% of total farm receipts in 2017, a dip from the 56.4% reached in 2016, which was the highest percentage reported in Statistics Canada data going back to 1971. Over the past five years, crop receipts have averaged 54.6% of total receipts, while averaging 52.3% over the past 10 years. This trend is shown by the yellow line on the attached graphic. In Statistics Canada data going back to 1971, crop receipts reached 50% of total receipts for the first time in 2008.

Looking at individual crops, cash receipts from wheat are reported at $5.067 billion in 2017, the largest value sold in four years. Wheat receipts accounted for 14.9% of total crop receipts in 2017. Over the past five years, wheat receipts have averaged 15.3% of total crop receipts.

Canola receipts in 2017 totaled $9.918 billion, a record high, while accounting for 29.1% of total crop receipts. This is up 2 points from 2016, increasing for the fourth straight year, while over the past five years, canola sales have accounted for 25.6% of total crop receipts.

Soybean receipts are reported at $2.7 billion in 2017, down from the record set in the previous year, while accounting for 8% of total crop receipts in 2017. On average over the past five years, soybean receipts have averaged 7.9% of total crop receipts in the country.

Corn receipts totaled $2 billion in 2017, down slightly from 2016. This dollar value totals 5.9% of total cash receipts, which compares to the five-year average of 6.8% and the 10-year average of 6.7%.

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

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