According to Farm Credit Canada (FCC), Manitoba saw the highest increase in farmland values last year.

FCC's farmland values report, which was released on Monday, shows Manitoba's farmland went up more than 12 per cent, while the national average climbed only about 10 per cent.

"Generally in Manitoba, we've seen an average to above average crop throughout, so I think that's one of the main factors that's helped keep Manitoba land prices at the level that it did," says Claude Jacques, an FCC senior appraiser based out of Portage la Prairie. "With the loonie dropping as it has, it still has supported the commodity prices, so that's also helped to support the land values in Manitoba."

Jacques says the increases in 2015 may not be as much in previous years, but thinks he the report shows agriculture is still a strong industry.

After Manitoba, Alberta saw the next highest increases in farmland values, rising 11.6 per cent.