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CP strike over

CP strike over

Canadian Pacific employees walked off the job Tuesday evening

By Diego Flammini
Staff Writer
Farms.com

Canadian Pacific Railway (CP) will resume normal operations his morning after the railway and employee unions reached tentative four-year agreements yesterday.

About 3,000 employees represented by the Teamsters Canada Rail Conference took strike actions late Tuesday night after contract talks between the union and CP deteriorated.

Another group of employees, represented by the International Brotherhood of Electrical Workers, also took strike action.

The news of the tentative agreements is good news for producers, who have faced a rail backlog and other legislative hurdles.

“With grain bins and elevators still full across the Prairies we are counting on both railways to work to full capacity to get our backlogged grain to export position,” Jeff Nielsen, president of Grain Growers of Canada, said in a statement yesterday. “With this positive news, and the recent passage of Bill C-49, grain farmers are excited about the opportunity that exists to have a rail transportation system that works for hardworking farm families and the rural communities they live in."

The challenge now, farmers say, will be trying to accommodate the railways’ times to ensure grain deliveries are made.

Everything runs “on the railroad schedule, it’s not the customer’s schedule, it’s not the shipper’s schedule and it’s not the farmer’s schedule,” Todd Lewis, president of the Agricultural Producers Association of Saskatchewan, told Global News yesterday. “That’s got to change.”

Another Canadian industry praised the quick resolution of the CP strike.

The effects of a one-day strike are “manageable” by the country’s mining sector, Pierre Gratton, president and CEO of the Mining Association of Canada, said in a statement yesterday. And the federal government’s support in the negotiations protects “Canada’s reputation as a reliable exporter,” the statement said.


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The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.