Company reports net income of $650.9 million for first nine months of fiscal year
CHS Inc. today announced its financial results for the third quarter and the first nine months of fiscal year 2019.
Net income of $54.6 million for the third quarter of fiscal 2019 compared to $181.8 million for the restated third quarter of fiscal 2018. One-time pre-tax gains of $124.1 million in the restated third quarter of fiscal year 2018 were not realized in the same time period in fiscal 2019. One-time pre-tax gains of $19.2 million related to the purchase of the remaining 75 percent share of West Central Distribution, LLC were realized in the third quarter of fiscal 2019.
Consolidated revenues of $8.5 billion for the third quarter of fiscal 2019 compared to $9.1 billion for the restated third quarter of fiscal 2018.
Net income of $650.9 million for the first nine months of fiscal 2019 compared to $535.5 million for the restated first nine months of fiscal 2018, an increase of 21.5 percent.
By Steve Hinds, Senior Business Development Manager, CHS Refined Fuels Marketing from the Cenexperts blog
Incompatible people are often said to mix like oil and water.
But if you really want to talk about an unfortunate combination, look no
further than fuel and water. Water in a machine’s fuel line can be a one-way
ticket to trouble.
The good news about water damage is it’s preventable. Here’s
what you need to know about diesel fuel water contamination and how to keep it
from sinking your operation.
CHS Prairie Lakes offices will hold holiday hours over the Independence Day holiday.
July 4: All locations closed.
July 5:Offices will be closed. Grain and energy will be off, with the exception of Tim Guza, who will be in the office during trading hours. Agronomy hours will vary, so please call your local office for more details.
Have a safe and enjoyable Independence Day holiday, and be on the lookout for corn that hits ‘knee-high by the fourth of July’!
Missed the 2019 CHS Owners Forum in your area? Tune in for the CHS Owners Forum webinar Friday, June 28, 1:00 to 2:30 p.m. CT, to hear business updates from CHS leadership including CHS President and CEO Jay Debertin. We will also take a look at industry trends and ask for your input on how we can make connections that support long-term success. Register here.
What happens when the world’s biggest buyer suddenly backs away from U.S. soybeans? That’s been a question on everyone’s mind since July 6, 2018, when the United States implemented China-specific tariffs. The move embroiled U.S. farmers and cooperatives in a trade war that hit the soybean world particularly hard. Spring USDA data shows 2018–2019 soybean export inspections down nearly 34 percent from the year before, with farms and cooperatives struggling to handle huge carryover and reduced cash flow.
By Tim Guza, CHS Prairie Lakes Grain Department Manager
The past couple of weeks, we have been seeing quite a bit of pricing opportunities in the markets.
Weather has been a significant player this planting season. The rain keeps falling and the US is only about 60% planted with corn. Later today (May 28) we will see the actual numbers. We are also wondering what will go to preventive planting versus what will get planted and be eligible for the MFP (Market Facilitation Payment).
With the current rally in the corn, basis has backed off 18 cents. We do not have a lot of business on for July and beyond so it may become more difficult to find homes for corn. This will keep pressure on the basis. Another interesting thing that has happened since the corn market rallied is the December to July spread has narrowed 23 cents. We currently see all the carry in the market to be between the December and March.
With the current market situation, it is important to stay in tune with your marketing plan so opportunities are not missed. Keep our CHS Prairie Lakes grain team in mind for all your marketing needs.
This material has been prepared by a sales or trading employee or agent of CHS Hedging, LLC. and should be considered a solicitation. This communication may contain privileged and/or confidential information and is intended only for the use of the individual or entity to which it is addressed. If the reader of this message is not the intended recipient, you are hereby notified that any unauthorized dissemination, distribution, and/or use of this communication is strictly prohibited. CHS Hedging, LLC. makes no representation or warranty regarding the correctness of any information contained herein, or the appropriateness of any transaction for any person. There is a risk of loss when trading commodity futures and options.
Safety for our staff and member-owners is of the utmost importance to the team at CHS Prairie Lakes. Read below to learn more about how to safely climb ladders and up equipment.
Three Points of Contact
The safest way to mount and dismount vehicles, equipment, and ladders is to maintain three points of constant contact. That means one hand and two feet, or two hands and one foot – at all times. Anything less and you’re risking a fall.
Tips for Using the THREE POINT System: – Always face towards the equipment. – Get a firm grip on the rails or handles. – Look for obstacles on the ground before exiting. – Mount and dismount when the equipment is stopped. – Break the three-point contact only when you reach the ground, cab, or platform. – Slow down and take extra care in wet, snowy, or icy weather. – Avoid wearing loose or torn clothing that can catch on the equipment. – Wear shoes with good support.
Common Mistakes to Avoid: – Never jump – you may land off balance or on an uneven surface and fall. – Don’t climb down with something in your free hand – put it on the vehicle floor and reach up for it when you get to the ground. – Don’t use tires or wheel hubs as a step surface. – Don’t use the door frame or door edge as a handhold.
See this and other seasonally-relevant safety tips on our website!
Minn, Hubbard County
4-H (4-H Riders Horse Project)was
awarded an Agricultural Education grant from CHS Prairie Lakes, as part of the
company’s Community Funds Program.
CHS Prairie Lakes selected Hubbard
County 4-H to receive a $400 grant to help maintain the safety of their youth
riders and horses. Funds will be used to improve arena footing and purchase
equipment to maintain the arena. 4-H Riders Horse Project is dedicated to
training, working together, and teaching in a safe environment.
Applying schools and local community
organizations are asked to state their plans for the grant money, supply
general information about the project and purpose of the request, along with
specific financial needs and projected outcomes. Applications for grant funding
are available online at www.chsprairielakes.com.
products and services in the agronomy, energy, and grain markets with locations
in the communities of Elrosa, Glenwood, Hoffman, Long Prairie, Lowry, Park
Rapids, and Starbuck, CHS Prairie Lakes is here to supply for your needs. For
more on what’s new and to learn about other ways CHS Prairie Lakes gives back,
visit us at www.chsprairielakes.com,
like us on Facebook, and follow
us on Twitter.
Get to know members of our 2019 summer intern team below! The group started mid-May and will be with us until August, where all are returning to college to pursue a degree in their selected fields. We wish them all the best this summer and hope they learn a lot to utilize in their future careers!
Weed issues seem to grow every year, which
is why we now offer a superior surfactant to boost herbicide performance. CHS
Level Best® was
introduced in 2018. In its first year it was applied to more than 1 million
acres of farmland, receiving strongly positive reviews from farmers and