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Urgent Appeal to New Labour Minister on Rail Strike Risk

Urgent Appeal to New Labour Minister on Rail Strike Risk
Jul 22, 2024
By Jean-Paul McDonald
Assistant Editor, North American Content, Farms.com

Wheat Growers Urge Action on Rail Strike

The Wheat Growers Association extends a welcome to the Hon. Steven MacKinnon as the new Minister of Labour. The Association emphasizes the urgent need to address the potential national rail strike that threatens to disrupt the upcoming harvest season.

The Canadian Industrial Relations Board (CIRB) is expected to release its decision regarding the maintenance of essential rail services by August 9th. This decision could trigger a strike within 72 hours, significantly impacting the movement of grain during a critical period.

“We hope that the new Minister understands that farmers depend on grain movement at harvest to get paid at delivery which helps offset harvest costs and inputs for the year. The complacency of the federal government on this file is putting farmer’s financial viability at risk,” stated Daryl Fransoo, Saskatchewan Director, in a media release.

Mr. Fransoo further highlighted the potential long-term consequences of a strike on Canada's international reputation as a reliable grain supplier. "International buyers operate on a 'just-in-time' delivery model," he explained.

"Regaining the trust and loyalty of international customers is very difficult. It’s often forgotten that once a strike ends, it can take months to move the backlog of grain, hurting farmers and communities long after the strike is over."

The Wheat Growers Association communicated its concerns to the previous Minister of Labour on two separate occasions, April 24th and May 22nd, 2024. Unfortunately, these communications did not receive a response.

“It’s not too late to resolve this issue, but time is running out to ensure that the 2024 harvest is not impacted. We urge the Minister to act swiftly in the best interest of Canadian grain farmers, our export markets and the Canadian economy”, closed Fransoo.


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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


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More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
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Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.