By Alice McFarlane

Agriculture Roundup for Tuesday November 3, 2020

Nov 3, 2020 | 11:01 AM

The Canadian Grain Commission (CGC) has suspended licences for three companies that purchase pulse and specialty crops from western Canadian farmers.

CGC temporarily revoked the licences for Canpulse Foods and Global Grain Canada, as well as their parent company, Ontario-based Globeways Canada.

In a notice published Oct. 31, the grain commission said farmers who are owed money for crop delivered to these companies should notify the commission immediately.

The notice also stated any business with Canpulse Foods, Global Grain or Globeways Canada done after Oct. 30 will not be subject to producer payment protection under the Canada Grain Act.

CGC has not released any information on security held for the three companies, and how it compares to the amount owed to producers.

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Globeways Canada is owned by a multi-national agri-food supplier Hakan Group, based in Dubai.

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Canadian fertilizer maker Nutrien narrowed its full-year profit forecast.

It saw an improvement in market conditions globally, helped by higher crop and fertilizer prices, the company said.

The Saskatchewan-based company, the world’s biggest fertilizer maker by capacity, also posted a net loss for the third quarter, hurt by an impairment charge of $823 million.

The company said the charge was related to a less favorable long-term outlook for phosphate prices and expected global supply imbalance.

The company said it now expects 2020 adjusted net earnings to fall in the range of $1.60 to $1.85 per share.

Fertilizer manufacturer and rival company Mosaic reported an adjusted profit of 23 cents per share, beating analysts’ average estimate.

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Canadian Pacific set a record for shipping grain and grain products in October.

With 3.04 million metric tonnes (MMT) moved, it marks the first time ever CP has exceeded 3 MMT in a month.

It also betters the previous October record of 2.66 MMT, set in 2019, by 14.2 per cent.

CP Vice-President Sales and Marketing Grain and Fertilizers Joan Hardy said CP’s customers are managing strong and healthy supply chains to the ports, where new and expanded terminal capacity is facilitating very strong flows of grain.

Darwin Sobkow is the chief operations officer of Richardson International.

He said it was impressive the performance was achieved at the time of year when grain movement is critical to all participants in the value chain, including farmers and international customers.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF