Reading Time: < 1 minute The grain company formerly known as CWB has picked sites and plans to start construction next month on two new grain elevators in Saskatchewan. G3 Canada on Tuesday announced it will build primary elevators about five km north of Melville on Highway 10 and seven km west of Saskatoon on Highway 14, to be ready […] Read more
G3 to build two more Saskatchewan elevators
Viterra plans new eastern Alberta elevator
Reading Time: < 1 minute Glencore’s Prairie grain handling arm Viterra plans to stake a new claim in the northeastern Alberta market with a new high-throughput elevator at Vegreville. The company announced Monday it has picked up the necessary regulatory approvals and expects to start construction along Canadian National Railway (CN) track this spring. The elevator is expected to have […] Read more
Grain handle helps lift CN to record Q4
Reading Time: 2 minutes Traffic in Prairie grain and U.S. soybeans got credit Tuesday for helping Canadian National Railway (CN) to a record profit for its fourth fiscal quarter. Montreal-based CN booked net income of $1.018 billion on revenue of $3.217 billion for the quarter ending Dec. 31, up from $941 million on $3.166 billion in the year-earlier period. […] Read more
CP, CN both top their Prairie grain revenue caps
Reading Time: 2 minutes The Western Grains Research Foundation (WGRF) can soon expect a late gift of over $4.4 million in surplus Prairie grain freight revenue, according to a new ruling from the Canadian Transportation Agency. The agency said Dec. 22 it has determined Canadian Pacific Railway (CP) and Canadian National Railway (CN) went over their maximum revenue entitlements […] Read more
CN feels Prairie harvest delays in Q3 revenues
Reading Time: 2 minutes Weather-related stalls in this fall’s Prairie grain harvest have chipped away at Canadian National Railway’s (CN) third-quarter financials, as the railway booked lower profits and revenues on “shifting traffic demands.” Montreal-based CN on Tuesday reported overall net income of $972 million on $3.014 billion in revenue for the quarter ending Sept. 30, down from $1.007 […] Read more
Railways urge Ottawa to loosen grain hauling rules
Reading Time: 2 minutes Winnipeg | Reuters — Canada’s big railways are pressing Ottawa to loosen rules around hauling the country’s crops — changes they say would improve efficiency but that farmers fear would weaken their bargaining power. A February report recommended that Ottawa institutes transportation system changes, including phasing out a 16-year-old cap on revenue that Canadian National […] Read more
Viterra plans new elevator in eastern Saskatchewan
Reading Time: < 1 minute Glencore’s Prairie grain handling arm Viterra plans to boost its throughput capacity in east-central Saskatchewan with a new elevator at Wadena. Wadena, served by both Canadian National and Canadian Pacific Railways (CN, CP), already has a smaller Viterra elevator on each line. The two former Saskatchewan Wheat Pool elevators have capacity for 5,020 and 4,000 […] Read more
CN promotes CFO as CEO resigns
Reading Time: < 1 minute Canadian National Railway’s (CN) chief financial officer Luc Jobin will become its chief executive on July 1, as incumbent CEO Claude Mongeau steps down for health reasons. Mongeau announced Tuesday he will resign as CN’s CEO at the end of June, after leading the railway company for six and a half years. “I was filled […] Read more
Cost index for railways’ grain revenue cap gets boost
Reading Time: 2 minutes The loonie’s decline since last year has led federal regulators to dial up the index guiding how much money Canada’s big two railways get to keep from hauling Prairie grain. The Canadian Transportation Agency (CTA) announced Friday it will raise its volume-related composite price index (VRCPI) by 4.8 per cent, to 1.3275, for the 2016-17 […] Read more
CN books lower first-quarter grain handle
Reading Time: 2 minutes Higher revenue per carload offset reduced grain and fertilizer traffic for Canadian National Railway (CN) in its first fiscal quarter. Montreal-based CN on Monday reported overall net income of $792 million on total revenues of $2.964 billion for the quarter ending March 31, up from $704 million on $3.098 billion in the year-earlier Q1. The […] Read more
A message from April Stewart, Country Guide's Associate Editor
