GFM Network News


Nutrien’s potash mine at Lanigan, Sask., about 100 km southeast of Saskatoon. (Nutrien.com)

New Nutrien CEO to carry out current strategy

Schmidt to focus on potash price over boosting sales

Winnipeg | Reuters — Canadian fertilizer and farm dealer Nutrien will continue its existing business strategy, including a focus on supporting global potash prices over maximizing sales, new CEO Mayo Schmidt said Tuesday. Surging prices of corn, soybeans and canola have given North American farmers more incentive to spend on fertilizer, lifting crop nutrient prices

Mayo Schmidt, shown here in Winnipeg in 2007, has been named CEO of Nutrien. (Dave Bedard file photo)

Ex-Viterra chief Schmidt named Nutrien’s new CEO

Chuck Magro stepping down for 'new opportunities'

Canadian fertilizer and ag retail giant Nutrien has tapped a familiar name in agribusiness to lead the company, as the CEO it’s had since birth steps aside. Saskatoon-based Nutrien said Monday its board has named its current chairman, Mayo Schmidt, as the company’s new CEO. Replacing Schmidt as Nutrien’s chair is Russ Girling, former CEO


(File photo by Dave Bedard)

Nutrien beats profit expectation on strong potash sales

Reuters — Canadian fertilizer maker Nutrien posted fourth-quarter profit above analysts’ estimates on Wednesday as potash demand rose amid rising crop prices, sending its U.S.-listed shares up in extended trade. Fertilizer producers have benefited from high U.S. crop exports, including record-large corn sales to China. With crop prices touching multi-year highs, farmers are poised to




BHP’s Saskatchewan potash mine project is set up north of Jansen, about 65 km southeast of Humboldt. (BHP.com)

BHP covers added costs for potash project

Long-awaited decision by BHP board now expected mid-2021

“Challenges” in completing the shafts for its Saskatchewan potash project have led the world’s biggest mining company to top up the project budget by 10 per cent. BHP, in an operational review document released Tuesday for its quarter ending Sept. 30, said its board has approved another $272 million to complete the watertight concrete and

The White Pass border crossing between Alaska and northwestern British Columbia, about 25 km north of Skagway, Alaska. The proposed A2A line would largely skirt B.C. en route from Alberta to Alaska. (Thierry64/iStock/Getty Images)

Trump-backed Canadian railway to Alaska faces high hurdles

Proponents say line could move grain, fertilizer as well as oil

Winnipeg/Washington | Reuters — A private-sector proposal endorsed by U.S. President Donald Trump to build a railway from Canada’s oil sands to ports in Alaska would free landlocked crude but faces numerous steep challenges. Trump wrote on Twitter over the weekend that he would issue a permit for the Alaska-Alberta Railway Development Corporation (A2A Rail)

(File photo by Dave Bedard)

Nutrien cuts profit forecast on weak ammonia prices

Reuters — Canadian fertilizer maker Nutrien on Monday cut its annual adjusted profit forecast as weaker-than-normal industrial demand held back prices for ammonia and urea ammonium nitrate. The company cut the top end of its 2020 adjusted earnings per share forecast to $1.90 from $2.10 earlier, while retaining the lower end at $1.50. Even as


(File photo by Dave Bedard)

Nutrien cuts 2020 forecast as corn demand, potash prices hit

Reuters — Fertilizer maker Nutrien said Wednesday it has seen limited impact from the COVID-19 outbreak, but cut its annual forecast as oil downturn hit corn demand and potash prices are hard-pressed outside North America. Biofuel producers have been hit by plummeting demand for gasoline and jet fuel after severe global travel restrictions were imposed

(PortOfThunderBay.com)

Thunder Bay wraps up active shipping season

MarketsFarm — The last cargo vessel of the year departed the Port of Thunder Bay on Sunday, bringing total cargo shipments through the facility to their highest level in half-a-decade. “Strong shipments of Prairie-grown grain and other dry bulk commodities from Western Canada buoyed the port’s cargo tonnage to 9.3 million metric tonnes, the highest