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CP Rail Sets November Record For Shipping Canadian Grain & Grain Products

CP Rail has completed its best-ever November and second-best-ever month for shipping Canadian grain and grain products, with 2.96 million metric tonnes moved.
 
This exceeds the previous November record in 2019 by 8 percent, and is second only to October 2020 for total monthly tonnage.
 
CP has shipped 11.13 million metric tonnes of Canadian grain and grain products in the 2020-2021 crop year, exceeding the amount shipped at this time in the 2019-2020 crop year by 15 percent.
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USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension


USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.