(Alice McFarlane/farmnewsNOW Staff)

By Alice McFarlane

Agriculture Roundup

Agriculture Information Update for Wednesday November 27, 2019

Nov 27, 2019 | 8:39 AM

Farm Credit Canada (FCC) says the country still has room to expand and diversify beyond its largest traditional markets for its top four agriculture exports.

In its latest trade report, FCC said growing protectionism, distance and price sensitivity is creating challenges for wheat, canola, soy and pulses.

FCC senior economist J.P. Gervais said the long-term success of Canadian agriculture relied on the ability to provide a greater diversity in commodities and food products for new and existing export markets.

The report said for canola, further growth in exports to Europe is possible and soybeans represented the best opportunity for Canada to further diversify export markets.

For pulses, European and middle Eastern import markets hold the most potential for diversification.

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Statistics Canada said realized net income of Canadian farmers declined 41 per cent from 2017 to $4.2 billion in 2018.

It was the largest percentage decrease in realized net income since 2006 and followed a 2.8 per cent decline in 2017.

Farm cash receipts, which include crop and livestock revenues as well as program payments, edged up 0.3 per cent in 2018 to $62.4 billion, the smallest increase since 2010.

Total net farm income fell by $4.7 billion to $3.6 billion.

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The purebred beef events have begun at Canadian Western Agribition.

The interbreed competitions show top quality animals competing head-to-head with other breeds in the show ring.

First Lady Classic Champion was a black angus exhibited by Poplar Meadows Angus of Houston, BC.

First Lady Classic Futurity Champion was a black angus with calf at side exhibited by Brooking Angus Ranch of Radville, SK.

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Events for day three of Agribition includes the Indigenous Summit. This is a conference and networking event geared toward Indigenous leaders and economic development organizations that are interested in pursuing projects related directly or indirectly to land development and agri-business ventures.

Grain Expo continues today with a lineup of speakers aimed at grain producers. The trade show features agriculture machinery including harvesting, seeding and grain handling equipment.

Livestock shows today include Speckle park and Simmental, the heavyweight horse pulls finals are this afternoon and the Maple Leaf finals rodeo is tonight.

The show wraps up on Saturday.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF