GFM Network News


(File photo by Dave Bedard)

CP CEO rules out raising Kansas City Southern bid

CP's first-quarter profit climbs

Reuters — Canadian Pacific Railway CEO Keith Creel said Wednesday the company will not raise its bid for U.S. railroad Kansas City Southern, saying bigger rival Canadian National’s offer is “not a real deal.” The two bidding companies are locking horns to take control of a vast network of railways across North America, with CN […] Read more



(File photo by Dave Bedard)

CP, CN break records for grain shipments

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 […] Read more




(File photo by Dave Bedard)

Pork supply issues hit Maple Leaf’s Q1 ledger

Reuters — Meat packer Maple Leaf Foods posted a smaller-than-expected quarterly profit as lower prices and a temporary interruption in supplies hurt sales of its pork products, sending its shares to their lowest in nearly two years. The company, one of Canada’s biggest pork processors, said that processed fresh pork sales were affected by a […] Read more





(ADM.com)

ADM sees weaker ag services outlook on trading woes

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

(Dave Bedard photo)

Bunge profit dives as grain glut hits margins

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