GFM Network News

Alberta to buy rail cars for oil

Ottawa | Reuters — The Alberta government is in talks to buy rail cars to transport 120,000 barrels per day of crude oil and expects a deal to conclude within weeks, Premier Rachel Notley said Wednesday, as the province takes actions to move oil stuck in the region because of a lack of pipeline capacity.

Dwindling diesel supplies could boost price

CNS Canada — Strong global demand and a looming North American harvest could send diesel prices higher in coming months. According to one energy analyst in Chicago, farmers may want to buy some fuel before prices get too high. “We’re telling our people to hedge some of your exposure, because we do think that, barring

Organization in Canada, China, sign memorandum

Canola Council of Canada touts benefits of canola oil and meal during trade mission to China

The Canola Council of Canada is celebrating a new memorandum of understanding after wrapping up a trade mission to China. Speaking from Beijing, canola council president Jim Everson emphasized the importance of the Chinese market for Canadian canola producers and processors. “We are just at the end of what we think is a very successful

Macquarie to buy Cargill’s global oil business

Houston | Reuters — Australian bank Macquarie Group is planning on buying Cargill’s global oil business, according to people familiar with the matter, marking the second energy business the global commodities trader has shed this year. Terms of the deal have been agreed upon, but the integration could take several weeks or longer, one of

Editorial: Biofuels fight

[Updated March 2, 2017]: What would a world with another five billion bushels of corn on the market look like? I am willing to bet that the grain growers among our readership just felt a small blood pressure spike at the very thought, anticipating dramatically lower crop prices. That figure represents the portion of the

Farmers, grain companies warn railways be ready to move a big crop

Western production could exceed the 
five-year average

The prospects of another bumper crop this year have western Canadian grain companies and farm leaders warning the railways to be ready. They want to avoid a repeat of the colossal and costly backlog of 2013-14 when crop production set a new record by a large margin. “We know it’s going to be a big

The International Criminal Police Organization (INTERPOL) rescues children, who were the victims of child trafficking, from cocoa fields in Cote d’Ivoire in June.

The dark taste of chocolate

There are an estimated 1.5 million child labourers in Cote d’Ivoire

Arouna stands shirtless in a cocoa field in Côte d’Ivoire. The 12-year-old holds a hoe and his ribs are clearly visible under his skin. He says, “I have to get up very early each day to be the first in the field with my younger brother to start clearing (the land). I’m so tired.” Arouna

Brace for more commodity volatility due to China

China’s real estate bubble is deflating as the economy slows

When someone asks where commodity prices are headed, they’re really asking: what’s the outlook for China? Last year, China consumed more coal than the rest of the world combined and imported 70 per cent of the world’s seaborne iron ore. In 2012, China accounted for half of the global growth in oil demand. It’s a