Farmland values are still rising—but the numbers are not as large as the last few years.

In its mid-year farmland values review, Farm Credit Canada (FCC) says Canadian cultivated farmland values rose by an average of 3.8 pe rcent in the first half of 2026—compared to the first half of 2025 when there was a six per cent increase.

FCC Chief Economist Craig Johnston says “higher production costs, tighter margins and uncertainty around trade, tariffs and international markets are contributing to a more caution and selective market.”

Saskatchewan is in the middle of the pack with a 2.6 per cent increase over the first six months of this year. That is well behind Alberta and Manitoba at 5.3 per cent, but ahead of Ontario at 2.4 per cent and British Columbia, which recorded a 1.9 per cent decline.

Looking ahead to the second half of 2026, Johnston says final crop quality and yields will shape the land market this fall and into next year.