Unionized workers began a three-day strike at two terminals of the port of Montreal as talks over a new contract are yet to result in a labor agreement, the Canadian port's authorities said on Monday.
Workers at six grain terminals in the Canadian port of Vancouver have reached a tentative deal on September 27, ending a strike potentially impacting exports from the world's top canola and number three wheat exporter during the harvesting period.
Despite rainfall across Saskatchewan, the province's harvest still advanced five points at 79 per cent complete as of Sept. 23. This year's pace is currently ahead of the five-year and 10-year averages.
The turnaround in canola futures on the Intercontinental Exchange indicates canola traders are ignoring issues with China and the strike among Port of Vancouver grain workers.
Farm Credit Canada (FCC) pledged up to $60 million to Glengarry Farm Finance Corporation to provide financial backing to farmers with credit issues, the firms announced yesterday.
Dozens of groups including the American Farm Bureau Federation, Renewable Fuels Association and American Chemistry Council said "the time has come for the U.S. government to intervene and ensure port operations do not stop" in order to prevent damage to U.S. agriculture and the economy.
BASF is planning a partial listing of its agricultural business because the stock market is underestimating the unit's earnings prospects within the group, the German chemicals giant's new CEO told staff on Wednesday.
Some 45,000 union workers could walk off the job at seaports on the U.S. East and Gulf Coasts on Oct 1, cutting off vital trade arteries just weeks ahead of the nation's presidential election.
While producers could feel the pinch of a strike at the Port of Vancouver's grain terminals within a week, the markets won't feel much of a hit unless the strike continues for three or four weeks, analysts said.