This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Western Canada Grain Crop Shaping Up To Be One Of The Largest Ever, Says CN President And CEO Claude Mongeau

Mongeau says solid supply chain collaboration and information sharing will be key to reaching world markets efficiently

EDMONTON, Oct. 7, 2013 /PRNewswire/ - Claude Mongeau, president and chief executive officer of CN (TSX: CNR) (NYSE: CNI), said today current forecasts call for Western Canada crop production of more than 60 million tonnes - one of the largest harvests in history - and stressed that supply chain collaboration and information sharing will be essential to moving the crop efficiently.

"Our grain customers have advised us in recent weeks that they are raising their original forecasts for this fall's shipments, as well as the amount of grain they intend to export between now and the end of this crop year next July," Mongeau said. "The current grain crop is now forecast to be among the largest in history. This is very good news for all of us involved in the business.

"Such a large crop will clearly challenge the entire supply chain. Meeting this challenge successfully will require all supply chain partners to come together in order to maximize end-to-end throughput on a consistent basis. Prompt car loading in the Prairies, steady railway movements from the country to port, and efficient car unloading at port terminals will be critical to solid hopper car fleet velocity so that the cars can be brought back to the countryside to meet new orders in a timely way.

"All participants in the supply chain will have to up their game to move the crop to market on time, and on spec. CN is focused on port terminal unloading performance on the waterfront, maintaining a fluid rail operation, and sizing its hopper car fleet capacity at the level required to help keep the supply chain synchronized. Our C$100-million investment in increased rail capacity in the Edmonton- Winnipeg corridor this year will help CN handle strong volumes of grain and other commodities over the fall and winter seasons."

Mongeau said the strong collaboration CN experienced with its supply chain partners in the fall of 2012 in moving significant volumes of grain to market bodes well for this fall. And he thanked partners who had invested in or secured incremental grain terminal capacity in Vancouver over the last 12 months.

Mongeau concluded: "True collaboration and information sharing along the entire supply chain will be the foundation for our joint success. CN is ready to play its role as a key supply chain enabler, helping Canadian farmers and our customers bring this record crop to world markets efficiently."

Stock quotes in this article: CNI, CNR 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs