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CPKC gives latest report on effects from grain report, drought, and port strike

CPKC has had a busy week, with the latest crop report being released and plenty more to deal with for shipping grain.

Elizabeth Hucker, Assistant Vice President for Marketing, Sales and Bulk, detailed some of the figures brought up in that crop report.

"CPKC released our 2023-2024 grain plan on July 31st, the report outlines our strong commitment to our grain customers and the unique position to supply rail transportation to Canada's agricultural sector as the first single-line connection between Canada, the United States, and Mexico, I'd say that we're well positioned to transport Canada's grain and grain products throughout this crop year."

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Wheat Futures Head for the Moon on Escalating Drought Concerns

Video: Wheat Futures Head for the Moon on Escalating Drought Concerns


???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.