As well, February was the first time reported in three months that China was not the No. 1 destination for Canadian canola. The 126,100 mt shipped to China was the smallest monthly volume shipped to this destination in five months.
While this data may be a signal for concern, the AG Transport Coalition’s Weekly Performance Update for week 33 bears watching. As seen on the attached chart, the hopper car demand seen from Canada’s two largest railways is reported to grow for a second week to 9,856 hopper cars (blue line), the highest number reported in 13 weeks or since week 20.
In addition, the number of cars ordered for week 34 are reported lower for CN Rail while expected to grow the week after. The number of cars ordered by CP Rail are expected to grow in week 34 and again in week 35.
The brown line represents the weekly demand for hopper cars for the week 34 to week 52 period in 2019-20 as a reference. Over this period, weekly demand averaged 9,905 cars.
Cliff Jamieson can be reached at firstname.lastname@example.org
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