GFM Network News

More News →

File photo of a CN locomotive in Winnipeg. (Dave Bedard photo)
Crops

CN CEO to retire as investor pressure weighs

Shareholder TCI has replacement in mind

By ,
Reuters — Canadian National Railway (CN) said on Tuesday its CEO Jean-Jacques Ruest will retire at the end of January, following investor demands for his exit after the railroad operator’s failed bid for Kansas City Southern. TCI Fund Management, which owns five per cent of Canadian National, in August pitched former Jim Vena — a
Railway tracks
Editorial, Op/Ed

Editor’s Take: Rubber, meet road

By
In recent years the country’s two major railways have all but dislocated their metaphorical shoulders patting themselves on the back. They’re rightly very proud of record grain movement year after year, and have pointed to major investments in infrastructure, equipment and personnel as key to that success. And to be clear, both CN and CP
Shippers say they’ll be watching CN’s performance closely following staff cuts.
News

Turmoil at CN making Canadian grain shippers nervous

Hedge fund is threatening to oust the railway’s senior management

By
Canadian grain shippers are worried CN Rail’s plan to boost profits and avoid a shakeup in the executive suite could result in poorer service. “Even though (grain shipping) demand is a bit down (due to a smaller crop) they (CN) started rationing last week and their order fulfilment, especially out of Alberta is dropping,” Greg
An eastward-facing view from the north edge of the crossing at Mile 98.14 of CN’s Ashcroft subdivision, where BCWS suspected the Lytton fire began. (TSB photo)
Crops, Weather

No evidence trains sparked Lytton fire, TSB says

Transportation Safety Board now stepping out of ongoing fire probe

By ,
There’s no proof the fire that largely destroyed a British Columbia village, damaged a key rail bridge and led to cuts in rail speed limits in high-risk areas was sparked by train traffic, the federal Transportation Safety Board says. The TSB on Thursday said its investigation, launched in early July, “has not revealed any evidence
(GFM file photo)
Crops, Markets

Cargill, ADM sell GrainBridge to ag software firm Bushel

'Network effect' expected in grains sector

By ,
An online service farmers use to manage grain sales with ADM’s elevators and processing plants across Canada — along with Cargill and ADM elevators in the U.S. — is under new ownership. ADM and Cargill, the two major U.S.-based agribusinesses that set up GrainBridge in 2019, announced Tuesday they’ve sold it to Bushel, a Fargo,
(Photo courtesy Port of Los Angeles)
Crops, Markets

‘Containergeddon’: Supply crisis drives Walmart, rivals to hire own ships

Bulk grain ships pressed into container service

By , , ,
Los Angeles | Reuters — The Flying Buttress once glided across the oceans carrying vital commodities such as grain to all corners of the world. Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls. The dry bulk cargo ship has been drafted into the service of
The Garden City container terminal at Savannah is operated by Ports America on behalf of the Georgia Ports Authority. (Photo courtesy Georgia Ports Authority)
Crops

Canada’s CPPIB to buy major U.S. port terminal operator

Canada Pension Plan's play furthers its infrastructure push

By
Reuters — Canada Pension Plan Investment Board (CPPIB) said on Wednesday it had agreed to buy Ports America, one of the largest marine terminal operators in the U.S., from investment firm Oaktree Capital Management. While no valuation was given in the announcement, the deal values Ports America at over US$4 billion, according to two sources
Hot, dry weather through the summer kept crop yields down this season.
News

Grain industry wrestles with unfulfilled grain contracts

Because of drought some farmers sold more grain than they grew and face big bills to buy back their contracts

By
Farmers who contracted to deliver a portion of this year’s crop at a specific price but can’t fill it because drought cut production have a problem. Depending on the contract they are obliged to either find the equivalent grain elsewhere and deliver it, or pay the grain company what it costs to acquire the grain.
(CPR.ca)
Crops

CP, Kansas City lock in new deal as CN steps out

More efficient flow of grain, perishables, machinery parts touted

By ,
Canadian Pacific Railway and U.S. railway Kansas City Southern on Wednesday again formalized their engagement after competing suitor Canadian National Railway walked away from the table. CP and KCS, which reported “unanimous” support from both companies’ boards, have entered a merger agreement committing CP to pay about $31 billion in cash and stock, or about

Special Podcast

AgCanadaTV

AGCanadaTV: In Case You Missed It – Your National Ag News Recap for the week ending October 15, 2021.

Sponsored By:
More Videos →

Daily Newsletter

You'll receive current daily news every morning free, as well as market updates and special features.