Farm incomes are forecast to reach record levels for Canadian farmers in 2015 and to remain above average for 2016, according to the 2016 Canadian Agricultural Outlook released by Agriculture Canada today.

The increase in farmer incomes comes from improved crop and livestock receipts, an increase in global trade and greater demand for agricultural commodities by developing countries.

“Canadian agriculture and food industry is well positioned for continued success,” Lawrence MacAulay, federal agriculture minister said in a news release.

The Canadian Agricultural Outlook is a forecast for farm cash receipts, expenses and net incomes. The report also highlights the trends that are expected to influence global markets from 2016 to 2025.

The analysis presented in this report is prepared in consultation with provincial governments and Statistics Canada and can be used as a benchmark for governments and industry planning.