Last updated: July 9, 2026. This page gets updated as the story develops — bookmark it.
The biggest farmland story in Canada right now isn't a policy file or a trade spat. It's one Saskatchewan farm putting 274,000 acres on the market at the same time. Here's the whole saga in one place — what happened, what's for sale, what's sold, and the dates that matter next.
📖 The story in 30 seconds
Swift Current-based Monette Farms grew from a family operation into one of North America's largest private farms — roughly 274,000 acres owned, plus a couple hundred thousand more leased, across Saskatchewan, Manitoba, B.C., Alberta, Montana, Arizona and Colorado.
Then the bill came due. On April 15, 2026, a syndicated loan originally worth $950 million matured, and the company couldn't cover it. Monette filed for creditor protection under the CCAA (Canada's version of Chapter 11), kept farming on $90 million of court-approved emergency financing, and in June a judge signed off on a plan to list essentially all of the land for sale.
Brokers started marketing the properties on June 29. Bids run through the fall, with the whole process wrapping by the end of November.
🔢 The key numbers
The number | What it is |
|---|---|
274,000 acres | Owned land listed for sale |
~$1.04 billion | Appraised value of the land package |
~117,000 acres | The Saskatchewan portion alone |
~$950 million | Original syndicate loan (2018), led by Scotiabank |
~$1 billion | Total liabilities at filing |
$90 million | Court-approved DIP financing to finish the 2026 crop |
84% | Of 2026 acres already seeded by June 1 — the farm keeps farming through the sale |
🗓️ Timeline so far
Dec 2018 — Monette signs a $950M senior credit facility with a lender syndicate (Scotiabank, BMO, RBC, CIBC, TD, CWB, Conexus, EDC), fueling years of aggressive expansion.
April 15, 2026 — The loan matures with ~$830M outstanding. Monette can't pay and becomes insolvent.
Late April 2026 — CCAA filing. Creditor protection granted; FTI Consulting appointed monitor.
May 2026 — Court approves $90M in DIP financing so the farm can seed. Cattle are sold to clear an ~$11.8M Farm Credit Canada loan. An early $28.9M land sale closes.
June 12, 2026 — Justice R.W. Armstrong approves the Sale and Investment Solicitation Process (SISP) and extends creditor protection to Nov 13.
June 29, 2026 — Brokers begin listing all 274,000 acres. Sask and Manitoba land (~177,000 acres, ~$725M) is flagged as "restricted" because provincial rules cap foreign ownership at 40 acres.
Week of July 6, 2026 — B.C. properties hit the market.
⏭️ The dates to watch
Sept 1 — The monitor starts evaluating bids that are already in.
Oct 15 — Binding bid deadline.
Oct 31 — Target for court approval of successful bids.
Nov 13 — Creditor protection expires.
Nov 30 — The sale process officially wraps.
💰 What's sold so far
Land near Regina — $41.18M
17,000 acres at Havre, Montana — $47.5M (USD)
Stewart Valley, Sask. — 12,932 acres for $54M, about 158% over its 2025 appraisal 👀
Hafford, Sask. — 2,553 acres for $29M
Waldeck, Sask. — 485 acres for $1.78M
That Stewart Valley premium is the number to remember: the company's own counsel has said don't expect fire-sale prices — this is a court-supervised sale, not a bankruptcy auction.
🚜 What it means for your farm gate
Land values. 117,000 Saskatchewan acres hitting the market at once is unprecedented. If it sells strong (see: Stewart Valley), it validates current land prices. If parcels sit, it's the first real stress test of the Prairie land market in years.
The buyer pool is you. Foreign-ownership rules cap non-resident buyers at 40 acres in Sask and Manitoba — so the realistic buyers for most of this land are neighbouring farms, Canadian investors, and Canadian funds.
A once-in-a-generation expansion window. If there's ever been a moment to talk to your lender about the quarter next door, hundreds of parcels arriving on the market at once is it.
🌾 Our coverage so far
👉 Monette Farms' 274,000-Acre Land Sale Goes Live (June 30)
👉 A Megafarm Fire Sale Lands on Saskatchewan (June 22)
👉 More farmland stories: the Farmland archive
🔗 Primary sources
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