Canada CTA News

CN Below, CPKC Above Grain Revenue Entitlements for Crop Year 2023–2024

The CTA determined that CN's grain revenue of $1,213,732,435 was $34,329,653 below its entitlement of $1,248,062,088, while CPKC's grain revenue of $871,716,922 exceeded its entitlement of $869,892,839 by $1,824,083. CPKC has 30 days to pay the overage plus a five percent penalty of $91,204 to the Western Grains Research Foundation. Western grain volumes decreased 3.5 percent to 43,700,661 tonnes from 45.3 million tonnes in the prior crop year.

CTA Sets CN and CPKC Railway Price Indices for 2025–2026

The Canadian Transportation Agency has announced Volume-Related Composite Price Index values of 1.9734 for Canadian National Railway and 1.9349 for Canadian Pacific Kansas City for the 2025–2026 crop year beginning August 1, representing increases of 1.72% and 3.11% respectively over the prior year. These indices, derived from railway submissions on labour, fuel, materials, and capital costs, will inform Maximum Revenue Entitlement calculations capping CN's and CPKC's combined revenue from regulated western grain shipments, with final determinations due by December 31, 2026.

CN Below, CPKC Above Grain Revenue Entitlements, 2024-2025

The Canadian Transportation Agency determined that CN's grain revenue of $1,454,604,793 fell $5,913,453 below its entitlement of $1,460,518,246, while CPKC's grain revenue of $1,066,938,687 exceeded its entitlement of $1,064,278,437 by $2,660,250. CPKC must pay the overage amount plus a five percent penalty of $133,012 to the Western Grains Research Foundation within 30 days. The 2024–2025 crop year saw 49,002,694 tonnes of Western grain moved, a 12.1 percent increase from the prior year's 43.7 million tonnes.