In short, no. The song has never, so far as can be told, been found in Scotland; though quite frequently in England and America. Back in the old days, English towns were often quite small and farmers sometimes lived in them. Here, though, we are looking at a song that probably dates from the 18th century (perhaps a bit earlier, though we have no evidence of that), and in which the 'farmer' was originally a merchant anyway.

See Steve Gardham's paper at http://www.mustrad.org.uk/:   The Bridgewater Merchant for more detail and a speculative reconstruction of the lost broadside text.

Seven years on, I can add that this is number 18 in the Roud Folk Song Index.