More time has been bought for a northern Ontario agricultural research station on the brink of closing to come up with a new operating plan. The Ontario government on Monday announced $350,000 in bridge funding for the not-for-profit Thunder Bay Agricultural Research Association, operator of the Thunder Bay Agricultural Research Station (TBARS), to “develop a […] Read more
Thunder Bay ag research station gets stay
CN, CP both over revenue limits for 2014-15 grain haul
Canada’s big two railways will both be required to hand over seven figures in Prairie grain revenue from the 2014-15 crop year after taking in more than their federally-allowed maximums. The Canadian Transportation Agency on Tuesday ruled Canadian National Railway and Canadian Pacific Railway (CN, CP) exceeded their grain revenue entitlements for the crop year […] Read more
Trends for 2016: Pulses expected to steal acres from cereals
CNS Canada — Canadian farmers are expected to seed more pulse crops at the expense of cereals in 2016, according to early projections from industry experts looking at current market trends. “Definitely we’ll see an increase in pulse crop acreage,” said Bruce Burnett, weather and crop specialist at G3 Canada. Lentils and peas are seeing […] Read more
CP revises hostile bid for Norfolk Southern, again
Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board […] Read more
Norfolk Southern rejects CP’s revised offer
Reuters — U.S. railroad operator Norfolk Southern has formally rejected a revised offer from Canadian Pacific Railway (CP), raising the prospect of a proxy battle. CP shareholder Bill Ackman said last week that CP CEO Hunter Harrison and he have both been sounded out by activists interested in a proxy fight with Norfolk Southern. Ackman […] Read more
Oat prices move higher to spur farmer selling
CNS Canada — Prairie oat prices are ticking upward as buyers try to coax farmers into a slow market — but prices, most notably in Saskatchewan, may need to move further before that happens. “Prices are below expectations, and in some instances quality is below what the market is willing to accept at this point,” […] Read more
Glencore shares jump on debt reduction moves, spending cuts
Johannesburg | Reuters –– Glencore has increased its debt reduction target and deepened its capital spending cuts, stepping up its response to lower commodity prices and boosting its battered shares by 12 per cent on Thursday. The mining and commodities trading firm and owner of Canadian grain handler Viterra said it was targeting net debt […] Read more
CP revises offer for Norfolk Southern, rebuffed again
Reuters — Canadian Pacific Railway (CP) on Tuesday revised its bid to buy U.S. railroad operator Norfolk Southern Corp, less than a week after its prior $28.4 billion proposal was rejected but the new offer was promptly rejected again. Calgary-based CP said it was now offering $32.86 in cash and 0.451 of a share in […] Read more
BHP Billiton to cut 76 Sask. potash jobs
Reuters — Anglo-Australian miner BHP Billiton will cut 76 jobs from its Canadian potash operations due to low commodity prices, a company spokesperson said on Friday. Work continues on sinking and lining shafts at BHP’s potash mine near Jansen, Sask., about 60 km southeast of Humboldt, according to the spokesperson. The mine would be the […] Read more
U.S. railway Norfolk Southern rejects CP offer
Reuters — U.S. railroad operator Norfolk Southern said Friday its board had rejected Canadian Pacific Railway’s US$28.4 billion offer, calling it “grossly inadequate” and could face substantial regulatory hurdles. A struggling coal transportation market, suppressed by weak market demand and global oversupply, has weighed on the earnings of Norfolk, making it more vulnerable as a […] Read more
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