A three-year deal still needs to be ratified by workers, but Canadian National (CN) railway reports today that a tentative deal has been struck with the Teamsters union and a rail strike has been averted.
The threatened strike would have crippled an already severely taxed logistics system trying to move the huge 2013 crop. As Brian Voth, of Agri-Trend Marketing, explains in this RealAg Market Update, farmers who had September deliveries booked are still sitting on the crop. Voth said that there will still be 2013 crop to move by the time 2014 production starts to come off the field. A rail strike would have been a disaster for Western Canada’s farmers and agriculture industry.