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A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4, 2018. (File photo: Reuters/Chris Wattie)
Crops, Markets

Bargain hunters fire up rally in cannabis stocks

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New York | Reuters — Some cannabis stocks are seeing their prices surge as investors hunt for winners in the ashes of an industry shakeout that hammered share prices last year. Shares of Tilray Inc. and Canopy Growth Corp. have climbed more than 20 per cent since the start of the year, while Cronos Group […] Read more
(File photo by Dave Bedard)
Crops

CN, CP come in under 2018-19 grain revenue caps

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Changes to federal rail transport rules that took effect in 2018 have put Canada’s big two railways well under their new Prairie grain revenue caps for the 2018-19 crop year. The Canadian Transportation Agency on Monday announced Canadian National Railway (CN) booked 2018-19 Prairie grain revenue of $933,357,710, a figure $371,116 below what the CTA […] Read more
(Dave Bedard photo)
Crops

Third-quarter grain handle down for CN, CP

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Canada’s Big Two railways both booked reduced traffic but increased their revenue per carload in their grain handling segments for their third fiscal quarters ending Sept. 30. Canadian National Railway on Tuesday reported third-quarter net income of $1.195 billion on $3.83 billion in total revenues, up from $1.134 billion on $3.688 billion in the year-earlier […] Read more
(UrosPoteko/iStock/Getty Images)
Crops, Markets

Short-sellers circle cannabis stocks as profits dwindle

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New York | Reuters — Wall Street’s love of cannabis appears to be going up in smoke as vaping-related ailments and missed revenue projections are prompting short sellers to raise their bets against the industry, fund managers and analysts said on Wednesday. Short interest in cannabis stocks, which reflects bets that prices will fall, has […] Read more
(File photo by Dave Bedard)
Crops, Machinery

Railways book higher grain freight revenue for Q1

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Canada’s big two railways reported somewhat higher revenue from handling grain during their fiscal quarter ending March 31, despite both companies reporting winter weather woes. Canadian Pacific Railway (CP) on April 23 reported grain segment revenue of $380 million for the quarter, up six per cent from the year-earlier period, on about 92,800 grain carloads, […] Read more
(File photo by Dave Bedard)
Crops, Machinery

CP books higher Q4 grain revenue on reduced handle

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Increased revenue from grain handling — albeit on a slightly lower overall grain handle — helped Canadian Pacific Railway improve its fourth-quarter and year-end gross for 2018. Calgary-based CP on Jan. 23 reported overall net income of $545 million on $2.006 billion in revenues for its fourth quarter ending Dec. 31, down from $984 million […] Read more
(Dave Bedard photo)
Markets

Cargill’s net earnings down as trade fight bites

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Chicago | Reuters — Grains trader Cargill on Thursday reported a 20 per cent drop in its fiscal second-quarter 2019 net earnings, as global trade tensions hit the bottom line along with challenges in the Chinese hog sector and a struggling U.S. dairy business. Three of the company’s four business units reported results that were […] Read more
CN locomotives in Winnipeg. (Photo courtesy CN)
Crops, Machinery

CN’s grain handle up in record quarter

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Traffic in Canadian National Railway’s grain and fertilizers segment rose eight per cent in its latest quarter, helping the company to record quarterly revenue. Montreal-based CN on Oct. 23 reported net income of $1.134 billion on $3.688 billion in revenues for its quarter ending Sept. 30, up from $958 million on $3.221 billion in its […] Read more
(File photo by Dave Bedard)
Crops, Machinery

Grain handle down slightly in record quarter for CP

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Grain carloads were marginally fewer but grain revenue per carload climbed 10 per cent to help Canadian Pacific Railway to its highest quarterly revenue ever. Calgary-based CP on Oct. 18 booked net income of $622 million on $1.898 billion in revenues — its “highest ever (revenues) for any quarter” — in its third quarter ending […] Read more
A CN locomotive near Jasper, Alta. (Photo courtesy CN)
Crops, Machinery

Grain handle drops in CN’s first quarter

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Reduced traffic in grain, fertilizers and petroleum, against increased costs from “challenging operating conditions,” ate into the first-quarter bottom line for Canadian National Railway (CN). Montreal-based CN on Monday booked net income of $741 million on total revenues of $3.194 billion for its quarter ending March 31, down from $884 million on $3.206 billion in […] Read more

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