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Members of the Teamsters Canada Rail Conference voted about 98% in favour of a strike at CN and CPKC, which could begin as early as 22 May. The union said talks were at an impasse after six months of negotiation.
A simultaneous stoppage at both railroads could disrupt crude, coal and grain shipments in Canada, the US and Mexico.
The strike authorisation raises the risk of grain export disruption from Canada, which supports wheat prices and widens origin premiums.
argusmedia.comAbby CaplanMar 25, 2024After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
