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The federal government of Canada filed a statement of claim against OmniTrax for failing to repair the Hudson Bay Railway line to Churchill, Manitoba, after spring flooding. OmniTrax responded by announcing a NAFTA claim against Ottawa, and it says repairs could cost up to US$60 million.
The Churchill line is a key outlet for Prairie grain, so a prolonged outage would constrain western Canadian grain exports and could support Canadian wheat and canola basis.
producer.comSaskatoon newsroomNov 14, 2017After 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.
Not enough comparable past events yet for a historical read.
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.
