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Louis Dreyfus’ oilseed processing plant at Yorkton, Sask. (LDC.com)
Crops, Reuters

Dreyfus chair owes US$240 million after ADQ deal

Stake sale's proceeds going to repay loan

By ,
Paris | Reuters — Margarita Louis-Dreyfus, chairperson and main shareholder of Louis Dreyfus Co., borrowed about $240 million from Credit Suisse in a reduced loan arrangement following the sale of a stake in LDC, an annual company report showed. Louis-Dreyfus told Swiss business magazine Bilanz in late 2020 she planned to use the proceeds of […] Read more
Mayo Schmidt, shown here speaking in Winnipeg in 2007, has “left his position” as Nutrien’s CEO and resigned from its board, the company said Jan. 4. (Dave Bedard file photo)
Crops, Reuters

Nutrien makes surprise CEO switch again despite strong profits

Abrupt change 'mighty perplexing' to analysts

By ,
Reuters — Canada’s Nutrien, the world’s biggest fertilizer producer by capacity, surprised investors by replacing its chief executive on Tuesday for the second time in eight months, even as the company rakes in strong profits. Nutrien said in a statement it named Ken Seitz, the head of its potash business, as interim chief executive after […] Read more
Mike Shewchuk, Saskatchewan Seed Growers’ Association president, says the seed shortages generally affect crops across the board.
Features, News

The great 2022 seed scramble

Book your seed and lock in prices as soon as possible, warn seed growers’ associations

By
To say 2021 wasn’t a very good year for seed growers in Western Canada is putting it lightly. The combination of drought conditions and unrelenting summer heat across much of the Prairies hurt seed production and has some farmers scrambling to secure the seed they need for the coming growing season. “It hit crops hard […] Read more
(File photo by Dave Bedard)
Crops

CN over, CP well under 2020-21 grain revenue caps

Railways moved record-level volume during year, CTA says

By ,
Coming off a record-level Prairie grain handle, Canadian National Railway’s $1.042 billion in 2020-21 Prairie grain revenue is set to be trimmed by about $2.52 million. The Canadian Transportation Agency on Wednesday released its determination that CN’s 2021-21 Prairie grain revenue of $1,044,909,345 came in $2,399,676 above its maximum revenue entitlement (MRE) for the year. […] Read more
CN locomotives in Winnipeg. (Photo courtesy CN)
Crops, Reuters

Hedge fund TCI seeks delay in CN CEO search

By ,
Reuters — TCI Fund Management said on Thursday Canadian National Railway’s search for a new chief executive officer should be delayed until shareholders at the nation’s top rail operator vote for a new search committee to elect a CEO. The announcement comes days after CN said TCI’s pick and former Union Pacific executive Jim Vena […] Read more
Crews work as Canadian Pacific Railway tracks are suspended above the washed-out Tank Hill underpass of the Trans-Canada Highway after devastating rain storms caused flooding and landslides, northeast of Lytton, B.C. on Nov. 20, 2021. (Photo: B.C. Ministry of Transportation and Infrastructure handout via Reuters)
Crops, Machinery, Weather

Grain movement to Vancouver picking up

Railways seen recovering from B.C. damages faster than many had expected

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Western grain movement to the Port of Vancouver was at 60 per cent of normal as of Dec. 15 and is expected to continually improve, Mark Hemmes, Canada’s grain monitor and president of Quorum Corp. said in an interview Wednesday. “I think by next week it’s going to look a lot better,” he said. “Is […] Read more

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