A new report finds the value of Ontario farmland is still rising -- but at a slower pace.
The Farm Credit Canada report says farmland values in the province increased by 12.4 per cent last year -- down from 15.9 per cent in 2013.
FCC chief agricultural economist J.P. Gervais has been predicting a "soft landing" for farmland values since crop prices began moving closer to the long-term average following abnormally high prices due to the 2012 U.S. drought.
Nationally, average farmland values showed a 14.3 per cent increase last year, sharply lower than the 22.1 per cent increase in 2013.
