The Canadian dollar is expected to be one of the key economic drivers for the agri-food supply chain in 2017.

J.P. Gervais, Farm Credit Canada’s Chief Agricultural Economist explains.

"We believe that with oil prices remaining fairly stable and with interest rates not moving up to fast, although we do expect that borrowing cost so producers are going to go up. We expect the Canadian dollar to average 75 cents in 2017," he said.    

He says a 75 cent loonie is positive for Canadian Agriculture as it improves our ability to sell into foreign markets which is important to the global economy and our agricultural exports.

"The positive trend for farm cash receipts in Canada has been the fact that our currency is weaker than the US dollar. That has turned out to be a positive for us if you compare the results we had in Canada to the US farm sector, which has experienced quite a bit of a downturn in 2015 and 2016," Gervais said.      

Other factors influencing the sector's performance include energy prices, commodity prices, interest rates, and the global economy and their demand for our products.

On the flip side, a lower Canadian dollar also has an impact on producer inputs.

 

More Ag News

Health Canada Approves Sale of Irradiated Ground Beef

Canadian consumers will soon have another option in the beef section at the grocery store. The Federal Government has approved the use of irradiation for raw, fresh and frozen ground beef. It’s a…

Four Sask Reps Headed to Scotland for World Angus Forum

It was a big weekend in Edmonton for four Saskatchewan youth involved in the Angus breed. Macy Liebreich of Radville, Wade Olynyk of Goodeve, Katie Wright of Melfort, and Maguire Blair of Drake all…

Minister of Agriculture Announces Crop Insurance Uptake for 2017

2016 marked the highest uptake of Crop Insurance in the Province with over 29 million acres being insured. Excess moisture and harvest challenges last year resulted in Crop Insurance payouts for 2016…

Rural Ranch Women’s Conference

Women are key players in farming and ranching operations, as well as managing the household and family. March 2nd and 3rd is the 2nd Annual Rural Ranch Women’s Conference in Maple Creek. The event…

MacAulay Discusses Trudeau-Trump Meeting

Canada's agriculture minister is optimistic following a meeting last week between prime minister Justin Trudeau and U-S president Donald Trump. Lawrence MacAulay touched on the issue while at the…

Farm Financial Survey Available Now

Information from the Farm Financial Survey for 2015 is now available. Data for the Stats Canada survey was gathered and analysed in 2016. According to the survey, the average net worth per farm…
Default Image

Below-Normal Runoff Levels Expected this Spring

The Water Security Agency has released their preliminary spring runoff outlook for 2017, and it’s showing that most of the province is expected to see below-normal runoff levels this spring. WSA…

2nd Phase for At Risk Habitat

Farmers can take part in workshops being held soon on the Saskatchewan Species at Risk Farm Program. Program Co-ordinator Tracey Hansen says the workshops will give producers information about…

Ag Knowledge Exchange Provides Info on Management Skills

Farm Credit Canada is holding Ag Knowledge Exchange events across Saskatchewan this week, to help producers improve their management skills and get some insight from experts. Grain Marketing Expert…

Right Crop Rotation Lowers Risk Of Disease

Farmers need to make sure they have the right crop rotations to help lower the risk of diseases like fusarium, sclerotinia and aphanomyces root rot. Brent Flaten, Integrated Pest Management…

Crop Quality and President Trump Affecting 2017's Global Markets

Producers saw good yields for grain, but lower quality for crops, and that could have an impact on the markets. Brad Magnusson of the Magnusson Consulting Group says for wheat, especially, there was…

Loss Of Revenue For Farmers Due To Lack Of Infrastructure

A lack of inland infrastructure and port capacity is costing Canadian farmers money. That from Thomas Mielke, executive director of global research and analysis with Oilworld - an independent…

American NFU President Says Ag Input Mergers Negatively Affect Farmers

The president of the American National Farmers Union was in Winnipeg last week speaking about competition and consolidation in the agricultural inputs industry. Roger Johnson says while there are…

Cattlemen's Workshop Takes Place in Consul Today

Cattlemen from around the southwest will be gathering today in Consul. The Cattlemen’s Workshop gets underway at 10:30 this morning at the Senior Citizens Centre. Producers will also hear from Tom…

Pulse Production on the Rise

Pulse production and consumption around the world continues to grow. Brian Clancey with Stat Publishing gave the Pulse Market presentation at this week’s Regional Pulse Meetings. "Prices have been so…

Pulse Growers Meet In Swift Current

Saskatchewan Pulse Growers are holding their Regional Meetings this week. Yesterday’s presentation was in Rosetown with today’s meeting taking place in Swift Current. We could see a renewed interest…

Gervais Optimistic For Agriculture in 2017

Producers taking part in FCC’s Ag Outlook learned more about some of the factors influencing the ag sector today. FCC’S Chief Agricultural Economist JP Gervais says there’s a variety of things to…

Regional Pulse Meetings Underway

Saskatchewan Pulse Growers and the Ministry of Agriculture are on the road this week for their Regional Pulse Meetings. Executive Director Carl Potts says it’s a great networking opportunity for…

Bovine TB Herds Quarantined in SK And AB

Saskatchewan Cattlemen got more information last week on the CFIA’s Bovine Tuberculosis investigation. Dr. Rick Davies is the Area Chief Inspector with CFIA for Western Canada. He says provincially…

Changes At The Canadian Grain Commission

There’s more changes at the Canadian Grain Commission. Ogema area farmer Lonny McKague is taking on a new role at the Canadian Grain Commission. He has been selected to fill the Commissioner’s role.…

DiscoverWestman.com is Westman's only source for community news and information such as weather and classifieds.

Tots Play

27 February 2017 8:30 am - 11:30 am

Stockade at Kinetic Park





Morning Walking for Wellness

27 February 2017 8:30 am - 10:30 am

Stockade at Kinetic Park





Canadian Blood Services - Blood Donor Clinic

27 February 2017 3:00 pm - 28 February 2017 8:00 pm

Bridgeway Community Church





Blood donor clinic

27 February 2017 3:00 pm - 8:00 pm

Bridgeway Community Church





Evening Walking for Wellness

27 February 2017 6:30 pm - 8:00 pm

Swift Current Comprehensive High School, Swift Current





Top Secret Kids' Writing Club

27 February 2017 7:00 pm

Swift Current Branch Library, Swift Current





Gentle Yoga

27 February 2017 7:00 pm

Swift Current Branch Library, Swift Current





Login