MarketsFarm — Both of Canada’s major railways moved record-breaking amounts of grain in June and set records for the most grain moved in a fiscal quarter.
Canadian National Railway (CN) reported moving 2.7 million tonnes of grain to ports during the month of June, while Canadian Pacific Railway (CP) moved 2.76 million tonnes.
Similarly, CN moved 8.15 million tonnes of grain in the first quarter of 2020, which it said was a new all-time best performance in a quarter. CP moved 8.4 million tonnes of Canadian grain during the same period, which it said was also a record.
CP, in a release Tuesday, said year-to-date crop volumes are almost nine per cent ahead of the previous year’s pace.
“The collaborative relationships CP has built with its customers, combined with responsive rail service, have contributed to another quarter of record-breaking grain movements,” CP vice-president Joan Hardy said.
CN credits “the strength of our supply chain and its ability to meet the continued strong global demand for Canadian grain,” senior vice-president James Cairns said in a separate release Tuesday.Tagged cn, cp, first quarter, grain, June