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Be the first with the news that moves the market- CN (CNR) has once again broken its year-upon-year grain movement record, after transporting more than 2.88 million metric tons so far this month
- The company has now reported eight consecutive months of record grain movement, starting in March of this year
- CN is also ahead with regards to its new grain hopper cars, which it expects to receive sooner than planned
- The company has already received 100 of the 1,500-strong shipment, and expects another 500 to be in service by January
- CN (CNR) is down 1.04 per cent and is currently trading for $132.52 per share
CN (CNR) has once again broken its year-upon-year grain movement record, after transporting more than 2.88 million metric tons so far this month.
This record, set in October of 2019, was smashed by the company with two days still left in October 2020. CN is on track to exceed the as yet unreached milestone of three million metric tons, making this the company’s biggest month of grain delivery ever.
The company has now reported eight consecutive months of record Canadian grain movement this year. CN started breaking the records in March 2020, and has continued to do so every month since then.
This is not the only area where CN is exceeding expectations and setting new ones. The company is also ahead in regards to its new grain hopper cars, which it expects to receive sooner than planned.
The first shipment of 1,500 new generation, high-capacity grain hopper cars is scheduled to arrive soon. CN has already received 100 cars, and expects another 500 to be in service between now and the end of 2020.
CN’s Executive Vice-President and Chief Operating Officer, Rob Reilly, thanked the CN ONE TEAM and Canadian grain farmers for their work during these difficult times.
“Our devotion to moving the North American economy remains unwavering and this new unprecedented record is further proof of the essential role we play in the global supply chains.
“The expedited delivery of the new hopper cars also reiterates our commitment to being ready for 2021 and beyond, with additional capacity and confidence in our ability to deliver safely for our customers, the economy, and the communities we serve,” he said.
CN (CNR) is down 1.04 per cent and is trading for $132.52 per share, as of 11:54pm EDT.
