The company handling sales and service for Trimble precision ag technology across most of Canada has reached a deal to handle the rest of it. Vantage Canada announced Friday it has bought the Trimble dealership rights and assets for Ontario from Premier Equipment, a John Deere dealership chain with nine locations in the province’s southern […] Read more
Trimble dealer shores up cross-Canada coverage
Vantage Canada picks up Ontario rights
GM says chip situation improving
All of automaker's pickup truck plants operating
Reuters — Top U.S. automaker General Motors said on Friday the semiconductor chip shortage that has hit production at automakers worldwide was abating, while reporting its first quarterly sales fall in a year. “As we look to the fourth quarter, a steady flow of vehicles held at plants will continue to be released to dealers,” […] Read more
Canada’s CPPIB to buy major U.S. port terminal operator
Canada Pension Plan's play furthers its infrastructure push
Reuters — Canada Pension Plan Investment Board (CPPIB) said on Wednesday it had agreed to buy Ports America, one of the largest marine terminal operators in the U.S., from investment firm Oaktree Capital Management. While no valuation was given in the announcement, the deal values Ports America at over US$4 billion, according to two sources […] Read more
Minnesota grain handler targeted in ransomware attack
Company instead issuing handwritten tickets for grain deliveries
Chicago | Reuters — Minnesota agricultural co-operative Crystal Valley said it had been targeted in a ransomware attack in recent days, making it the second Midwestern farm-services provider in a week to be forced to take systems offline due to cybersecurity incidents. Crystal Valley, which sells supplies like fertilizer to farmers and buys their crops, […] Read more
Federated Co-operatives looks to sell oil-producing business, keep refinery
Winnipeg | Reuters — Federated Co-operatives Limited (FCL) put its oil production business up for sale this week, according to a marketing document obtained by Reuters, but the co-op said it plans to keep its Saskatchewan refinery. FCL spokesperson Cam Zimmer did not comment on the reason for offering to sell the production business but […] Read more
Baltic Dry Index hits 12-year high
Canadian grain exports slow either way
MarketsFarm — Strong demand to move cargo coupled with weather-related shipping constraints in a number of key corridors has helped take ocean freight rates to their highest levels in more than a decade. The Baltic Dry Index (BDI), a major indicator of shipping rates, settled Friday at 4,275 points, marking its highest level since November […] Read more
CP, Kansas City lock in new deal as CN steps out
More efficient flow of grain, perishables, machinery parts touted
Canadian Pacific Railway and U.S. railway Kansas City Southern on Wednesday again formalized their engagement after competing suitor Canadian National Railway walked away from the table. CP and KCS, which reported “unanimous” support from both companies’ boards, have entered a merger agreement committing CP to pay about $31 billion in cash and stock, or about […] Read more
GM’s pickup money machine gets a technology tuneup
Silverado ZR2 to appeal to extreme off-roading segment
Detroit | Reuters — General Motors will give its best-selling Chevrolet Silverado large pickup truck models a makeover next spring to fix competitive shortcomings that have left Chevy in third place in one of the most lucrative vehicle market segments in the world. Catching up with rival trucks from Stellantis NV and Ford Motor Co., […] Read more
GM to cut North American production, citing chip shortage
Both GM, Ford cutting truck production
Washington | Reuters — General Motors will reduce production at most North American assembly plants this month because of the ongoing semiconductor chip shortage, hitting its profitable truck and sport utility vehicles, it said Thursday. The largest U.S. automaker will halt production next week at its Fort Wayne plant in Indiana and its Silao plant […] Read more
Deere lifts 2021 forecast on solid equipment demand
Reuters — Deere and Co. on Friday raised its full-year earnings forecast after quarterly profit topped Wall Street estimates on the back of strong demand for farm and construction equipment. The world’s largest farm equipment manufacturer now expects net income in fiscal 2021 to be between $5.7 billion and $5.9 billion, up from a range […] Read more
