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National & World Ag News Headlines |
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CN Railway Braces for Surge in Grain Shipments
USAgNet - 05/23/2022
Canada’s largest railroad is bracing for a surge in grain shipments across the country this year — a sign of hope that this year’s harvest will be better than the last one, when extreme drought devastated crops across the Prairies.
“Every kernel that’s harvested this year is going to want to move,” Canadian National Railway Co.’s new CEO Tracy Robinson told the Bank of America’s transportation conference on May 17. “We need to be ready for that.”
After a tough year in Canadian agriculture, CN believes things are starting to look up, judging from soil moisture levels this spring that suggest a more normal grain crop is coming.
“It would be a good thing for the world, wouldn’t it?” Robinson said. “A lot has to happen right from here. But I think we’re starting out in a positive way.”
The shot of optimism comes as the world faces a food crisis driven in large part by Russia’s invasion of Ukraine. The conflict has destabilized one of the most important regions in the world for grain exports, causing major spikes in commodity prices that have
contributed to a troubling burst of inflation. Prices are likely to stay high for months due to global supply issues, the United Nations’ Food and Agriculture Organization warned last week.
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