- Canadian National Rail (NYSE:CNI) CEO Claude Mongeau says the rail system is ready to handle the coming harvest, and urges Canada's government not to impose a heavier regulatory burden on the movement of grain.
- The comments come as the rail industry and farmers await the release this week of new rules that would build on steps the government took in March establishing minimum levels of grain rail companies were required to carry, in an attempt to ease a bottleneck that had driven the price of oats to historic highs in the U.S. and left grain stranded at elevators and farms in western Canada.
- Mongeau says the grain handling and transport system is now "fully back in sync" and the bottlenecks addressed.