Canadian Rail Cargo Movement Up 3.2% in May

On Tuesday, Statistics Canada (StatCan) reported railroad movements and capacity data for May. Volume totaled 32.0 million tons, up 3.2% year-over-year. This is also above the five-year average of 31.4 million tons.

Higher loadings of wheat, up 50.4%, and canola, up 41.0%, drove the overall increase. That was offset by a decline in loadings of coal, which decreased 5.1%, or by 182,000 tons, from the same month last year. This marks the fifth consecutive monthly decline.

In May, freight loadings from connections with American railways increased 0.9% compared with May 2023 to reach 3.8 million tons—the fourth consecutive monthly gain.