CP ready to move this year's larger grain crop

Canadian Pacific is touting its preparation for moving this year's western Canadian grain crop, which is forecast to beat the five-year average.

The Class I is calling on supply chain partners to ensure grain is adequately moved and distributed. The rail supply chain has returned to normal since the extraordinary crop and winter 2013-14, and CP "has continued to move record amounts of grain," CP officials said in a press release.

There is excess capacity in the supply chain, including thousands of rail cars in storage ready to move the latest crop. In order for the system to move record volumes of grain, it's essential that port terminals such as Vancouver operate on a 24/7 basis, said CP officials.

"To ensure success during this crop-year, the broader supply chain must work together to collectively harness our energy so that the entire Canadian economy can reap the maximum benefit," said CP Chief Executive Officer E. Hunter Harrison. "We have been preparing for this crop year for months and we are ready."

Grain is CP's largest line of business. Grain movement for the 2015-16 crop year was flat relative to 2014-15, 4.7 percent higher than the railroad's three-year average and 11.6 percent above its five-year average, according to CP.

The Class I continues to make significant investments in its infrastructure to move grain more efficiently, CP officials said.