Farms.com Home   News

CN reports strong grain shipments for Week 9

CN Rail is reporting grain movement is starting to pick up across the prairies.

CN's assistant vice-president of grain David Przednowek says rail car demand has ramped up over the last few weeks.

"We shipped almost 700,000 tons of grain and processed grain products last week , 685. So we've seen that tonnage steadily increase here over the past number of weeks. Week 6 was just under 600,000 tons and we've seen those numbers grow. So week 9 has definitely been the biggest week so far to date this crop year."

He notes there's been some maintenance work that's being done not on the CN line but on the directional running zone, that has impacted fluidity in and out of the Port of Vancouver.

Przednowek adds that CN also released it's Winter Rail Plan which details the action items that CN is taking to mitigate the impact of winter operating conditions.

 

"Winter is winter, minus 40 is minus 40 and that's going to have an impact on any aspect of the supply chain all the way from the country,  all the way to export destination. But it really goes through the resources that CN has in place and the actions that we can take to mitigate and work around some of the winter extremes."

A key focus included in their plan is their vigorous hiring and recruiting program.

He says they've really had a big hiring push on as work on bringing in hundreds of people to accommodate the changes in the Federal Government's labour rules,  work-rest rules, to federally regulated transportation sick days and more.

You can listen to Glenda-Lee's conversation with CN's assistant vice-president of grain David Przednowek by clicking on the link below.

Source : Pembinavalley online

Trending Video

RECORD National Corn Yield??

Video: RECORD National Corn Yield??

Agricultural and Economic Briefing: USDA Reports, Global Tensions, and Market Reactions

Welcome back to our channel for a detailed update on key developments affecting the agricultural sector and broader economic landscape. Here's what's on the agenda today:

USDA Crop Production and WASDE Reports The USDA is set to release its monthly Crop Production and WASDE reports today at 11:00am CST. These reports will reflect the updated new crop US corn and soybean balance sheets, incorporating data from the June Planted Acreage report which showed a significant increase in corn acreage. While no major adjustments to US corn and soybean yield projections are expected, the focus will be on potential changes to global supply and demand. The reports are anticipated to bear a mostly bearish tone, especially concerning corn prices.

Geopolitical Developments in Ukraine Ukraine's recent detention of a foreign cargo ship on the Danube River, suspected of carrying stolen Ukrainian grain from Russian-occupied Crimea, has escalated tensions. This incident has stirred concerns about potential Russian retaliatory actions during Ukraine's crucial grain export season. Wheat futures saw a sharp rise following the news, highlighting the sensitive interplay between geopolitical events and commodity markets.

US Drought Conditions and Agricultural Impact Recent USDA drought monitor data indicates mixed conditions across the US Corn Belt and High Plains, with many areas receiving beneficial rainfall and experiencing cooler-than-average temperatures. However, conditions have worsened in parts of western Illinois and northeast Missouri. These evolving weather patterns are critical for crop development stages and will continue to influence market dynamics.

US Crop Export Sales Corn export sales showed an increase last week, with Colombia being the largest buyer. However, soybean sales were relatively weak, with the Netherlands as the primary buyer. The varied performance in crop export sales reflects shifting global demand and market conditions, which traders closely monitor for strategic insights.

Economic Indicators and Market Reactions In a surprising economic update, consumer prices declined for the first time in four years last month, with the CPI falling 0.1% in June. This decline, coupled with the slowest annual inflation increase since March 2021, has significantly influenced market expectations, with the probability of the Federal Reserve beginning rate cuts in September now standing at 89%.

Stay Updated: For ongoing insights into these issues affecting agriculture, trade, and economic policies, make sure to subscribe to our channel. We bring you the latest information to help you understand the complexities of agricultural economics and global geopolitical shifts.

Join the Conversation: How do you think the upcoming USDA reports will impact market prices? What are your views on the ongoing geopolitical tensions and their potential effects on agricultural exports? Share your thoughts in the comments below. Your input is vital as we navigate these complex global scenarios.