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CN Rail strike: Statement from Ministers Savage and Dreeshen

Minister of Energy Sonya Savage and Minister of Agriculture and Forestry Devin Dreeshen issued the following statement calling for Prime Minister Trudeau to immediately recall Parliament to urgently address the CN Rail strike: 
 
“CN Rail regularly ships in excess of 170,000 barrels of Western Canadian oil per day. Any disruption in shipments would have serious consequences for an economy that is already dealing with severe bottlenecks due to cancelled and delayed pipelines. Alberta cannot see further restrictions on our ability to export our product.
 
“Parliament is scheduled to return on Dec. 5. Unfortunately, even this short wait could result in serious damage not just to the Alberta economy, but to the Canadian economy as a whole. We call on the Prime Minister to immediately call back Parliament to enact emergency back-to-work legislation for CN Rail.”
 
Sonya Savage, Minister of Energy
 
“Alberta farmers depend on rail to get their world-class products to market. We have seen the severe consequences of rail backlogs before. Farmers don’t need the added pain from compounding rail delays, especially after this difficult harvest. Now is the time to act.” 
 
Devin Dreeshen, Minister of Agriculture and Forestry
Source : Alberta.ca

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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?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
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.