Climate change is reshaping farmland - influencing crop yields, water availability, overall productivity and land values. Understanding these changes is crucial for farmers, policymakers, and economists alike. Two recent graduates of the Ontario Agricultural College (OAC) have published their research in the Journal of Land Economics, exploring the impact that climate change might have on farmland values – the results are surprising.

Chris Kimmerer, a graduate of the MSc in Food, Agricultural and Resource Economics (FARE) [1] program worked with Dr. Brady Deaton [2] to examine a unique dataset of 10,000 parcel-level sales in 2020, allowing for a detailed analysis of farmland values. This included the analysis of non-agricultural variables like the proximity of the farm to urban areas.

A few years later, MSc FARE graduate Nick Bannon expanded Kimmerer’s work and analyzed 45,000 farmland sales from 2017 to 2022, data provided to them by Farm Credit Canada (FCC), helped produce one of the most in-depth studies on how climate change affects Canadian farmland values.

“As farmland values reflect the underlying productivity of the land, understanding farmland values is crucial to ensuring food security both in Canada and abroad,” says Bannon.

Their collective findings suggest that by 2070, climate change may increase farmland values.

“The most interesting part was seeing how much time, collaboration, and stakeholder input it took to complete this research—and I was surprised by what it revealed about Canada’s role in supporting global food security amid climate change,” says Kimmerer.

Their publication in Land Economics highlights not only the quality of research emerging from OAC but also the real-world applications of an MSc in FARE. Both graduates have seamlessly transitioned into promising careers in the food economics sector. Kimmerer, who completed his MSc in 2022, is now an Analyst for the policy and trade team at Dairy Farmers of Canada, where he focuses on consumption trends, policy advocacy, and trade analysis.

“I work with an amazing team with lots of expertise in the Canadian dairy industry and it has been really rewarding to work directly for farmers,” says Kimmerer. “My MSc in FARE really prepared me for the type of analysis and collaboration that I do in my current role.”

Bannon, a 2024 graduate, is now working as a research professional for Analysis Group, an economic and litigation consulting firm, applying his expertise in agricultural economics to complex market analyses. The MSc program, along with his internship at FCC provided him with the professional knowledge and skill set to jump into this position.

“I am fortunate to have a job where I get to work with exceptional colleagues and apply the economic and data analysis tools I learned in the MSc FARE program to solve interesting and challenging problems,” says Bannon.

Their success story showcases the strength of the FARE program in equipping students with the analytical skills and industry connections necessary for impactful careers. Through rigorous research opportunities, real-world data analysis, and expert mentorship from faculty like Brady Deaton, OAC

continues to shape the next generation of agricultural economists who are prepared to tackle pressing global issues, including the economic implications of climate change.