Canada to maintain minimum grain volume requirements for railways
Canada’s Transport and Agriculture Ministers announced it will extend its Order in Council regarding minimum grain volume requirements for railways.
The Order was first introduced on March 7, 2014 for 90 days but has been in place since. It was first implemented to help maintain Canada’s reputation as a reliable supplier to world markets.
Under the Order Canadian National and Canadian Pacific railways must each move the following amounts of grains:
Metric tonnes per week
Nov. 30, 2014 to Dec. 20, 2014
Dec. 21, 2014 to Jan. 3, 2015
Jan. 4, 2015 to Feb. 21, 2015
Feb. 22, 2015 to Mar. 21, 2015
Mar. 22, 2015 to Mar. 28, 2015
Railways are legally obliged by this decision and penalties for non-compliance could reach $100,000 per violation.
"Our government continues to act to ensure that grain and all commodities get to market in a timely manner. We continue to call on all parties in the grain supply-chain to work together to ensure the efficient movement of grain to markets through the winter," Said Gerry Ritz, Canada’s Agriculture Minister.
ConAgra Foods not satisfied with its fight against child hunger
ConAgra Foods and ConAgra Foods Foundation are not impressed by the results of their fight against hunger in America.
The 20-year contribution was insufficient to fight child hunger a problem still touching more than one in five children in America.
The company now announced its new child-hunger-reduction goals and committed to donate $10m over the next three years, the most substantial donation Feeding America has ever received.
“We are committed to making good food that everyone can access and enjoy, and I have challenged our company and the ConAgra Foods Foundation to take a deeper look at ways to approach child hunger so we can make a more profound impact and reach new goals by 2018,” said Gary Rodkin, CEO of ConAgra Foods.
Cold weather in Russia and Ukraine could cause wheat price increase
Drought and below-normal temperatures could affect winter wheat crops in Russia and eastern Ukraine and lead to price increase, say Russian agriculture experts.
They forecasted that Russia could see an overall 18 million ton fall in grains production next year.
The wheat futures were already on a five-month high at $6 a bushel and the drought could cause even higher wheat prices.
SovEcon consultancy said “Winter grains are actually in the worst state on record, which includes the winter of 2009-10.” It predicted that wheat crop could fall below 50mt from this year’s 58-59mt.