Revenues for expansion-minded Quebec agrifood and retail co-operative La Coop federee crossed the $6 billion mark in fiscal 2016, leading to a substantial jump in patronage dividends to producers. The co-operative at its annual meeting reported earnings, before patronage dividends and income taxes, of $275.44 million on $6.335 billion in revenues for fiscal 2016, up […] Read more
Coop federee cracks $6 billion mark in revenues
Warm Saskatchewan weather spells early load limits
A long spell of spring-like weather in Saskatchewan’s southwest has softened roads to the point where winter weights are about to be removed. Increased winter weights will end in southwestern Saskatchewan, including several major roads and 70 rural municipalities, starting at 12:01 a.m. Friday (Feb. 24), the provincial highways department announced Wednesday. Affected roads will […] Read more
FCC launches new loan for young agri-businesspeople
Canada’s federal farm lending agency is expanding its loan offerings in agribusiness and agrifood with a new program aimed at young businesspeople. Farm Credit Canada’s Young Entrepreneur Loan, launched Thursday in Ottawa during Canada Agriculture Day celebrations, will offer financing of up to $1 million per qualified applicant under age 40, at closed variable rates […] Read more
B.C. police stop farmer clearing snowy street with Zamboni
Vancouver | Reuters — Police stopped a “well-intentioned” farmer on Vancouver Island on Monday night after he tried to clear a snowed-in neighbourhood street with a Zamboni, a vehicle for cleaning ice rinks and a fixture in arenas across Canada. Central Saanich police spokesman Dan Cottingham said on Tuesday the man told them he had […] Read more
Quebec farmers to shut snowmobile trails in tax dispute
Members of Quebec’s general farm organization plan to revoke permission for snowmobilers to use their land starting Monday, in protest over the province’s planned reforms to its farmland property tax credit. L’Union des producteurs agricoles (UPA) said Wednesday it had been planning such a move in late 2016 but on Dec. 20 had asked members […] Read more
How to evaluate a diesel engine
Are you thinking of buying a used tractor or other farm machine for next season? It’s only a few months before the spring auction sale season kicks off again, and there is no shortage of used machines on dealer lots to pick from right now. Buying used equipment can be a great way to add[...]
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Textron to buy Arctic Cat
A U.S. firm with multiple brands in the utility vehicle market is set to add Minneapolis-based ATV and snowmobile maker Arctic Cat to its roster. Providence, R.I.-based Textron Inc. announced Wednesday it has signed an all-cash merger deal to buy NASDAQ-traded Arctic Cat for $18.50 a share, or about $247 million (all figures US$). Arctic[...]
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Grain handle helps lift CN to record Q4
Traffic in Prairie grain and U.S. soybeans got credit Tuesday for helping Canadian National Railway (CN) to a record profit for its fourth fiscal quarter. Montreal-based CN booked net income of $1.018 billion on revenue of $3.217 billion for the quarter ending Dec. 31, up from $941 million on $3.166 billion in the year-earlier period.[...]
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Exporters, fearing border tax, scramble to shift production
Ottawa | Reuters — Canadian exporters are scrambling to find ways to avoid a potential 10 per cent import tax promised by U.S. President-elect Donald Trump, including the possible shifting of production or supply lines south of the border. Amid warnings from the Bank of Canada on Wednesday that protectionist policies brought in by Trump[...]
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CP’s revenue, Prairie grain handle down for year
A reduced Prairie grain handle has taken a bite out of the year-end gross for Canadian Pacific Railway in what’s turned out to be CEO Hunter Harrison’s last year on the job. Calgary-based CP on Wednesday announced full-year net income of $1.599 billion on $6.232 billion in gross revenues, up from $1.352 billion on $6.552[...]
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