Farms.com Home   News

CN Rail Continues Setting Grain Records

CN Rail has announced that for the 11th consecutive month it has set a new record by shipping over 2.95 million metric tonnes (MMT) of Canadian grain and processed grain products via carload in January. This exceeds the previous January record set in 2019 of 2.33 MMT by 27%, as well the three-year average of 2.24 MMT by 32%.
 
This brings the volume of grain moved via carload in the first half of the 2020-2021 crop year, which spans from early August to the end of the following July, to over 17.5 MMT.
 
This is 24% higher than the three-year average of 14.1 MMT, and 17% higher than the record of 14.9 MMT set in the 2018-2019 crop year.
 
CN is also breaking records with over 600,000 metric tonnes of grain moving direct from western Canada via container, in addition to volumes shipped from eastern Canada.
Click here to see more...

Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!