Surging demand for wheat, canola boost struggling Ontario shippers

Surging demand for wheat, canola boost struggling Ontario shippers
OTTAWA — The Chamber of Marine Commerce says that demand for wheat, canola and soybeans is pushing grain shipments up by 20 per cent in some of Ontario ports. The shipping association says that between April 1 and Aug. 31,  5.2 million tonnes of grain passed through a key trade corridor, the Great Lakes-St. Lawrence Seaway. Thunder Bay Port Authority... Read More

Modern Meat Sells Out of Product 12 Consecutive Weeks

Modern Meat Sells Out of Product 12 Consecutive Weeks
VANCOUVER – Modern Meat Inc. (CSE: MEAT) has announced that it has sold out of its products and has been at maximum capacity for 12 consecutive weeks to retailers and direct to consumer sales. The Company has been pleased with the initial launch of its line of Modern Burger, Crumble, Meatball, ‘Crab’ Cake, and sauces. “We are pleased by the... Read More

Hamilton company snares contract to build 1,150 CN Rail grain cars

Hamilton company snares contract to build 1,150 CN Rail grain cars
MONTREAL — Canadian National Railway Co. has awarded a contract for 1,150 grain cars to National Steel Car Ltd. in Hamilton. The railroad operator says the deal brings to $1 billion the amount it plans to invest in Ontario by the end of 2022, including $250 million to build a proposed logistics hub in Milton. The order for the high-efficiency hopper... Read More

Canola prices rising despite continued trade tensions with China

Canola prices rising despite continued trade tensions with China
Canola prices could continue to rise even after the futures contract soared to its highest level in nearly two years amid continued trade tensions with China and back-door access to the Asian importer, experts say. “As usual, (the upward movement) is a fairly complex situation,” said Bruce Burnett, director of markets and weather at MarketsFarm, that provides analysis on commodity markets. In March 2019, the Chinese... Read More

CN, CP ship record grain volumes in 2019-2020 despite blockades and COVID-19

CN, CP ship record grain volumes in 2019-2020 despite blockades and COVID-19
Canada’s two major railways shipped record amounts of grain over the past crop year despite a gauntlet of obstacles. Canadian National Railway Co. hauled more than 30 million tonnes of grain in 2019-20, a seven-per-cent increase from the previous year. Canadian Pacific Railway Ltd. moved 10 per cent more grain at 29.5 million tonnes. The railroads attribute the achievement to... Read More

West Fraser beats expectations as second quarter turns positive despite COVID-19

West Fraser beats expectations as second quarter turns positive despite COVID-19
VANCOUVER — West Fraser Timber Co. Ltd. beat expectations as it earned $48 million in its latest quarter despite lower revenues. The Vancouver-based forest products producer says it earned 70 cents per share for the three months ended June 30, compared with a loss of $58 million or 92 cents per share in the second quarter of 2019. Adjusted profits... Read More

Canada’s two largest railways move record grain in June, second quarter

Canada’s two largest railways move record grain in June,  second quarter
Canada’s two largest railways moved record quantities of grain in the second quarter after benefiting from another strong month in June. Canadian National Railway says it is on pace for record shipments of grain this year after record movements of Canadian grain last month and the quarter as a whole contributed to its best performance in the first half-year. The Montreal-based railway says it... Read More

Hiring soared in May as mass layoffs eased

Hiring soared in May as mass layoffs eased
WASHINGTON — The job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April. The Labor Department reported Tuesday that the number of available jobs rose sharply as well, but remained far below pre-pandemic levels. The figures, from the government’s Job Openings and... Read More

Bayer to pay up to $10.9 billion to settle Monsanto case

Bayer to pay up to $10.9 billion to settle Monsanto case
BERLIN — German pharmaceutical company Bayer says it’s paying up to $10.9 billion to settle a lawsuit over subsidiary Monsanto’s weedkiller Roundup, which has faced numerous lawsuits over claims it causes cancer. In a statement Wednesday, Bayer said it was also paying up $1.22 billion to settle two further cases, one involving PCB in water. The Leverkusen-based company said the... Read More

Winnipeg plant gets $100M in federal financing to pull protein from peas, canola

Winnipeg plant gets $100M in federal financing to pull protein from peas, canola
OTTAWA — The federal government is helping finance an innovative, new agricultural production plant in Winnipeg that turns peas and canola into protein powders for the food industry. Merit Functional Foods Corp. plans to have its new 94,000-square-foot production plant at Winnipeg’s Centreport running by the end of the year. There it will extract protein from peas and canola seeds for... Read More