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Tag Archives first quarter

Crops, Machinery

Railways book higher grain freight revenue for Q1

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Canada’s big two railways reported somewhat higher revenue from handling grain during their fiscal quarter ending March 31, despite both companies reporting winter weather woes. Canadian Pacific Railway (CP) on April 23 reported grain segment revenue of $380 million for the quarter, up six per cent from the year-earlier period, on about 92,800 grain carloads, […] Read more
Crops, Reuters, Weather

ADM says U.S. floods to cut into Q1 operating profit

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Chicago | Reuters — Flooding and severe winter weather in the U.S. Midwest will reduce Archer Daniels Midland’s first-quarter operating profit by US$50 million to $60 million, the U.S. grains trader said on Monday. Record floods have devastated a wide swath of the farm belt across Iowa, Nebraska, South Dakota and several other states. The […] Read more
Crops, Machinery

Grain handle down, costs up in CP’s Q1

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Increased traffic in potash and intermodal containers offset an eight per cent drop in grain carloads in Canadian Pacific Railway’s first quarter, against higher costs and “challenging” conditions. Calgary-based CP on Wednesday booked net income of $348 million on gross revenues of $1.662 billion for the quarter ending March 31, down from $431 million on […] Read more
Crops, Reuters

ADM sees weaker ag services outlook on trading woes

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Chicago | Reuters — U.S. agricultural trader Archer Daniels Midland (ADM) on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several key […] Read more
Crops, Reuters

Bunge profit dives as grain glut hits margins

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Chicago | Reuters –– U.S. agricultural trader Bunge reported on Wednesday a sharply lower first-quarter profit and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, N.Y.-based Bunge said net income available to shareholders plunged 82 per cent […] Read more
Crops, Reuters

Agrium posts smaller-than-expected loss for quarter

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Reuters — Agrium, the world’s biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash. The Calgary-based fertilizer and ag retail firm sold 636,000 tonnes of wholesale potash in the first quarter ended March 31 at an average of $208 per tonne, compared with 456,000 tonnes at $199 per […] Read more
Crops, Machinery

Grain handle helps CN to record first-quarter volume

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Canadian National Railway reports moving more Prairie grain in its first quarter than at the same time last year, despite “more demanding winter conditions” compared to 2016. Montreal-based CN on Monday reported net earnings of $884 million on overall revenues of $3.206 billion for the quarter ending March 31 (Q1), up from $792 million on […] Read more
Crops, Machinery

Grain revenue, grain handle higher in CP’s Q1

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Increased grain and potash traffic and revenue helped Canadian Pacific Railway book a shift to “positive volumes” in its first-quarter ledger. Calgary-based CP on Wednesday reported net income of $431 million on revenues of $1.603 billion for its quarter ending March 31, down from $540 million on $1.591 billion in the year-earlier period. “We turned […] Read more

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