Farmers’ Grain Bounty, Crop Exports Buoy U.S. Railroads

Rail traffic is still recovering from years of steep declines in coal, oil shipments. Shipments of grain and soybeans are up around 6.5% this year, and set a record of over 26,000 carloads a week during the peak of the harvest in October, according to the Association of American Railroads, a trade group. Leasing company GATX Corp. said every one of its grain cars was in use during the third quarter. CSX Corp., the third-largest U.S. railroad, said grain shipments shot up 27% in the third quarter compared with a year earlier, helping fuel a rally in the company’s stock.