Trade ministers from the 12 countries in the Trans-Pacific Partnership have signed their trade agreement, committing them to take the deal to their home governments for review and/or approval. The deal, which Trade Minister Chrystia Freeland signed on Canada’s behalf on Thursday in Auckland, New Zealand, is expected to see tariffs on Canadian products in […] Read more
Flax
Canada signs Trans-Pacific Partnership
Baltic index slips to fresh low, demand concerns persist
Reuters — The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, slipped to another all-time low Tuesday on worries about vessel oversupply and slowing global demand. The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, fell four points or […] Read more
Potential for fewer flax acres seen this year
CNS Canada — While area seeded to flax in Canada has been increasing over the past four years, that upward momentum may halt in 2016-17. Flax’s cost of production is higher than many of its rivals and the growing lustre of pulse crops could cut into some acres, according to one industry watcher. “It’s too […] Read more
CN to challenge latest grain revenue penalty
Ordered to hand over more than $7 million in Prairie grain handling revenue and related fines for the 2014-15 crop year, Canadian National Railway now plans to challenge the bill in court. Montreal-based CN on Monday filed in the Federal Court of Appeal, seeking leave to appeal the Canadian Transportation Agency’s (CTA) Dec. 29 finding […] Read more
CP cuts raise worry over potential slowdown
CNS Canada –– Canadian Pacific Railway’s decision to cut 1,000 jobs has caught the attention of two Prairie farm leaders. Norm Hall, president of Agricultural Producers Association of Saskatchewan, worries the move is short-sighted and may catch up with the railway in months and years to come, when commodity prices catch fire again. “You dump […] Read more
Lower loonie helps farmers, but only so much
CNS Canada — The slumping price of oil continues to weigh on the Canadian dollar, while at the same time providing a boost to Canadian grain prices. Out-of-country buyers tend to more attracted to Canadian grain and wheat when the loonie is low, as they can get more product for their money. However, one market […] Read more
Major investment to build Farmers Edge’s data power
Canadian precision agronomy and farm data management firm Farmers Edge plans to keep taking its services to previously underserved acres around the world, with a major cash infusion from a group of its backers. Japanese commodities trading and investment firm Mitsui, Toronto commercial real estate company Osmington and the Green Growth Fund operated by investment […] Read more
CN’s 2015 grain handle down, grain revenue up
Canadian National Railway’s (CN) fourth-quarter and full-year ledgers show lower traffic, but increased revenue, from its grain and fertilizer business in 2015, en route to record full-year earnings. Montreal-based CN on Tuesday reported overall net income of $3.538 billion on $12.611 billion in total revenues for 2015, up from $3.167 billion on $12.134 billion for […] Read more
CP books more Prairie grain revenue at year-end
Higher grain revenue on Canada’s Prairies helped lead to record full-year revenues and offset a lower fourth-quarter gross for Canadian Pacific Railway (CP), as the company warned of substantial job cuts ahead. The railway on Thursday reported overall net income of $1.352 billion on record revenue of $6.712 billion for 2015, down from $1.476 billion […] Read more
Ocean freight cost index breaks another floor
CNS Canada — The Baltic Dry Index (BDI) continues its downward slide, dropping below 400 points for the first time ever as ocean freight rates struggle to find their bottom. The BDI was quoted at 394 points on Wednesday, marking a new low since records began in 1985. The index was trading above 1,200 as […] Read more
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