Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Union Pacific says FXE issuing some US-Mexico grain shuttle permits

Published 10/02/2024, 04:52 PM
Updated 10/02/2024, 04:56 PM
© Reuters. FILE PHOTO: View shows a train of Ferromex train company before starting their route, in Ramos Arizpe, Mexico September 20, 2023. REUTERS/Daniel Becerril/File Photo
UNP
-
BRKb
-

By P.J. Huffstutter

CHICAGO (Reuters) - Union Pacific Corp (NYSE:UNP) said on Wednesday that Ferromex (FXE), the Mexican railroad it interchanges with, has resumed issuing permits for grain shuttle trains at the U.S.-Mexico border crossing at Eagle Pass, Texas.

FXE could not be reached for comment on Wednesday.

Pipeline issues are beginning to improve, Union Pacific told Reuters in an email statement.

Grain shuttle train traffic between the U.S. and Mexico has been snarled in recent months as booming demand outstripped the system's capacity, creating heavy congestion and a growing backlog of loaded trains, agricultural export sources said.

Efforts are ongoing to clear up service interruptions at the U.S.-Mexico crossing at El Paso, Texas, Union Pacific said. "Permits for El Paso will be granted once regular crossing cadence is established."

© Reuters. FILE PHOTO: View shows a train of Ferromex train company before starting their route, in Ramos Arizpe, Mexico September 20, 2023. REUTERS/Daniel Becerril/File Photo

U.S. East and Gulf Coast port workers have gone on strike, holding up some imports of beef that restaurants and retailers increasingly rely on to make hamburgers due to limited domestic supplies, traders and industry members said.

This week, Berkshire Hathaway-owned BNSF Railway said it had resumed issuing permits for grain shuttles heading to Mexico.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.