GFM Network News


CN, CP set third-quarter records for grain movement

MarketsFarm — Canada’s big two railways again reported moving record amounts of Canadian grain during the third quarter of 2020. Canadian National Railway (CN) reported Monday it had shipped 7.76 million tonnes of grain by rail, and Canadian Pacific Railway (CP) said Friday it had moved 7.72 million tonnes. For CN that not only marked […] Read more

Third-quarter grain handle down for CN, CP

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


Input Capital cuts costs as delayed sales lift Q3 profit

A hostile canola export market has left “commodity streaming” firm Input Capital paring back its staff count and halting its sales and marketing efforts. The publicly traded Regina company on Tuesday booked adjusted net income of $1.06 million on $4.95 million in adjusted total revenue for the quarter ending June 30, up from about $249,000 […] Read more

Grain handle down slightly in record quarter for CP

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


Grain handle helps lift CN quarterly revenue

An increase in Canadian grain traffic helped support Canadian National Railway’s third-quarter revenues, though the costs of increased traffic ate at its bottom line. Montreal-based CN on Tuesday reported net income of $958 million on total revenues of $3.221 billion for the quarter ending Sept. 30, down from $972 million on $3.014 billion in the […] Read more

Maple Leaf Q3 profit beats on overall sales growth

Reuters — Maple Leaf Foods, one of Canada’s biggest pork processors, posted a quarterly profit that beat analysts’ estimates, helped by growth across all its businesses. The company, whose brands include Schneiders, Maple Leaf and, since March, Lightlife, said adjusted operating earnings rose to $65.15 million in the third quarter from $61.52 million a year […] Read more


CP’s third-quarter grain handle down

“Volume momentum” in its third quarter has Canadian Pacific Railway looking forward to a rosier year-end ledger, though its grain traffic for the quarter dragged on that momentum. Calgary-based CP on Tuesday reported net income of $510 million on $1.595 billion in revenues for the third quarter ending Sept. 30, up from $347 million on […] Read more

Cargill’s Q3 profit up on ingredient, protein demand

Chicago | Reuters — Global commodities trader Cargill reported a higher quarterly profit on Wednesday as strong earnings from its food ingredients and protein units more than offset lagging results from South American grain trading and processing. The privately held company has been streamlining its operations to focus on higher-margin businesses such as food ingredients […] Read more


Bunge expects bounce from record U.S. harvest

Chicago | Reuters — U.S. agricultural products trader Bunge said Wednesday it expects the record-large U.S. corn and soybean harvest to help its earnings rebound from a weaker-than-expected third quarter. The company’s shares surged despite reporting disappointing results on Wednesday due to weather-reduced crops in South America, home to many of Bunge’s elevators and processing […] Read more

CN feels Prairie harvest delays in Q3 revenues

Weather-related stalls in this fall’s Prairie grain harvest have chipped away at Canadian National Railway’s (CN) third-quarter financials, as the railway booked lower profits and revenues on “shifting traffic demands.” Montreal-based CN on Tuesday reported overall net income of $972 million on $3.014 billion in revenue for the quarter ending Sept. 30, down from $1.007 […] Read more