first quarter Archives | Alberta Farmer Express

CP CEO rules out raising Kansas City Southern bid

CP's first-quarter profit climbs

By Reuters, GFM Network News April 22, 2021

Reuters — Canadian Pacific Railway CEO Keith Creel said Wednesday the company will not raise its bid for U.S. railroad Kansas City Southern, saying bigger rival Canadian National’s offer is “not a real deal.” The two bidding companies are locking horns to take control of a vast network of railways across North America, with CN […] Read more

Crops, Weather

Record-level grain handles continue for CN, CP

By MarketsFarm Team, GFM Network News April 6, 2021

MarketsFarm — Canada’s two largest railways both reported new highs in grain movement for March and for their first fiscal quarters. Canadian National Railway (CN) announced Monday it had moved 2.95 million tonnes of grain last month, beating the previous March record of 2.74 million transported last year. It was also the 13th straight month […] Read more

Crops

CP, CN break records for grain shipments

By Marlo Glass – MarketsFarm, GFM Network News July 9, 2020

MarketsFarm — Both of Canada’s major railways moved record-breaking amounts of grain in June and set records for the most grain moved in a fiscal quarter. Canadian National Railway (CN) reported moving 2.7 million tonnes of grain to ports during the month of June, while Canadian Pacific Railway (CP) moved 2.76 million tonnes. Similarly, CN […] Read more

Crops, Machinery & Shop

Railways book higher grain freight revenue for Q1

By GFM Staff May 6, 2019

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

Crops, Reuters, Weather

ADM says U.S. floods to cut into Q1 operating profit

By Reuters March 25, 2019

Chicago | Reuters — Flooding and severe winter weather in the U.S. Midwest will reduce Archer Daniels Midland’s first-quarter operating profit by US$50 million to $60 million, the U.S. grains trader said on Monday. Record floods have devastated a wide swath of the farm belt across Iowa, Nebraska, South Dakota and several other states. The […] Read more

Hogs, Livestock, Reuters

Pork supply issues hit Maple Leaf’s Q1 ledger

By Nishara Karuvalli Pathikkal May 2, 2018

Reuters — Meat packer Maple Leaf Foods posted a smaller-than-expected quarterly profit as lower prices and a temporary interruption in supplies hurt sales of its pork products, sending its shares to their lowest in nearly two years. The company, one of Canada’s biggest pork processors, said that processed fresh pork sales were affected by a […] Read more

Crops, Machinery & Shop

Grain handle down, costs up in CP’s Q1

By Alberta Farmer Staff April 18, 2018

Increased traffic in potash and intermodal containers offset an eight per cent drop in grain carloads in Canadian Pacific Railway’s first quarter, against higher costs and “challenging” conditions. Calgary-based CP on Wednesday booked net income of $348 million on gross revenues of $1.662 billion for the quarter ending March 31, down from $431 million on […] Read more

Beef Cattle, Livestock, Reuters

Strong beef demand lifts Cargill profit for quarter

By Karl Plume September 27, 2017

Chicago | Reuters — Global commodities trader Cargill reported a 14 per cent rise in quarterly profit on Wednesday as strong beef demand and ample supplies of cattle lifted earnings for its animal nutrition and protein segment for a fifth straight quarter. The gains in protein offset a weaker year-on-year result for Cargill’s origination and […] Read more

Crops, Reuters

ADM sees weaker ag services outlook on trading woes

By Karl Plume May 3, 2017

Chicago | Reuters — U.S. agricultural trader Archer Daniels Midland (ADM) on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several key […] Read more

Crops, Reuters

Bunge profit dives as grain glut hits margins

By Karl Plume May 3, 2017

Chicago | Reuters –– U.S. agricultural trader Bunge reported on Wednesday a sharply lower first-quarter profit and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, N.Y.-based Bunge said net income available to shareholders plunged 82 per cent […] Read more

U.S. grains: Corn, soy futures hit multi-year highs on supply fears

U.S. livestock: CME cattle futures up on beef prices, demand

Cervus expects chip shortages may continue into fall

GFM Network News