Financing Agriculture and Rural America: Issues of Policy, Structure and Technical Change: A Comparative Study of the Financial Performance of Grain and Oilseed Farms in Ontario and Illinois
Calum Turvey, Paul Ellinger
This paper provides a comparison between grain farms in Ontario and Illinois. The intent is to focus on how the two regions compare, economically, and how government programs in each region differ and affect asset valuations. In general the results indicate that the two economies move in tandem when it comes to revenue, income, and cash flow generation, the use of debt, and with bankruptcies. Significant differences appear in terms of government programs between the two regions. In Illinois the level of direct support per acre appears to be significantly higher than in Ontario. In terms of land values a paradox is found in that Ontario land values appear to be more highly correlated with the economics and level of support in Illinois and the United States. At the cursory level of analyses it appears that the farmland capitalization model is more supported in the U.S. than in Canada.
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