Kansas City Southern has warned that its rail freight “volumes were down 23%” in Q2 due to “reduced demand for discretionary items which become very depressed during a cycle that we’re operating in” according to CFO Michael Upchurch. Mexican trade with the U.S. by rail, where KCS is an operator, dropped by 17.6% year over year in April and by 26.4% in May after rising 7.9% in Q1. Exports slumped 39.7% lower in May due to closures of non-essential factories in Mexico. Automotive sector shipments were the main driver of the downturn with exports to the U.S. down by 90.8% with a slump in sh...