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During crop year 2008-2009, CN exceeded its grain revenue cap while Canadian Pacific remained below its cap, according to the Canadian Transportation Agency (CTA).

CN's revenue totaled $479.8 million, or about $683,000 above its cap, and CP’s revenue totaled $484.8 million, or about $1.1 million below its cap, the agency said.

The Class Is’ total combined revenue cap for the latest crop year increased by $208 million from the previous crop year. More than two-thirds of the increase was attributable to higher grain volumes and the remainder stemmed from an 8 percent rise in the volume-related composite price index, an inflation factor that’s determined each crop year, according to the CTA.

CN now has 30 days to pay the amount it exceeded the revenue cap, as well as a 5 percent penalty of $34,163, CTA officials said in a prepared statement.