In this paper, the received compact polarimetry (CP) parameters are analyzed to infer ellipticity variations related to the transmission of a polarized electromagnetic wave. A generalized 2 × 2 CP covariance matrix is created as a function of the transmitting ellipticity and orientation angle. The Stokes parameters, backscattering coefficients, and the m-χ decomposition scattering powers are used to interpret the temporal behavior of crop growth stages with varying transmitted ellipticities. Time series RADARSAT-2 fully polarimetric synthetic aperture radar data acquired during the Soil Moisture Active Passive Validation Experiment 2012 campaign are used to simulate the CP data. The results clearly show that the transmitted ellipticity variation influences the interaction of the radar signal with agricultural targets. It is noted that there is negligible change in the dominant odd-bounce scattering power for corn during its leaf development stage with the transmitted ellipticity varying by 100. In the case of wheat during tillering and inflorescence, the volume scattering power decreases by ~14% while the odd-bounce and even-bounce scattering powers increase by ~6% and ~8%, respectively, with the transmitted ellipticity varying by 100.