Underlying business performance stable, one-time events cause quarterly loss
PAUL, MINN. (July 14, 2017) – CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, announced a net loss of $45.2 million for the third quarter of its 2017 fiscal year (three-month period ended May 31, 2017), compared to net income of $190.3 million for the same period one year ago. Consolidated revenues for the third quarter were $8.6 billion, compared to $7.8 billion for the third quarter of 2016, representing a 10 percent increase.
“Despite the economic challenges in agriculture and energy, several of our underlying businesses are having a solid year,” said CHS President and Chief Executive Officer Jay Debertin. “Unfortunately, we’ve experienced three negative one-time events this fiscal year that have resulted in charges leading to a loss in the third quarter and a significant earnings decline for the year to date. In response to these events, we are implementing measures to better identify risk management gaps in some of our processes and when necessary enhance our ability to effectively manage our risks.”
There are several factors to consider before and during herbicide spray application. Taking the appropriate steps to prepare for a successful application can save time, money and effort. While spray requirements may vary based on crop, location and herbicide formulation, there are steps that should be taken to ensure the best protection against weeds during the current crop season and to protect the effectiveness of the herbicide long term.
Mother Nature plays an important role in the success of herbicide application. In addition to the preventive and arbitrary actions necessary to increase herbicide effectiveness, working with natural conditions is extremely beneficial and mandatory since we do not control the weather or other natural factors. (more…)
On June 22, editor of C magazine Greg Lamp hit the road on a motorcycle trip with a gang of Montana ranchers and farmers. Follow along with him as the group of wild hogs tours ranches, farms, co-ops and processing facilities in eastern Montana and western North Dakota. Photos and details of their adventures are provided in the links below. Make sure to check back for more!
Day 4: Sidney, Mont.
With the chilly weather leaving Minot, ND, the group had to stop and warm up in Stanley, ND. Then, it was on to Watford City, ND for lunch at the farm of fellow cyclist Bob Wisner. South of Watford City, ND, they took in the spectacular sights of Theodore Roosevelt Park before continuing on over the Yellowstone River to Sidney, MT. Click here for more photos and story.
On June 22, editor of C magazine Greg Lamp hit the road on a motorcycle trip with a gang of Montana ranchers and farmers. Follow along with him as the group of wild hogs tours ranches, farms, co-ops and processing facilities in eastern Montana and western North Dakota. Photos and details of their adventures are provided in the links below. Make sure to check back for more! (more…)
CHS Country Operations locations across the United States have been delivering checks to local food banks in May as part of the 2017 CHS Harvest for Hunger food, funds and grain drive.
Through the generosity of farmers, ranchers and CHS employees, more than $725,000 and nearly 610,000 pounds of food are headed to rural families in need, thanks to the CHS Harvest for Hunger drive organized by Country Operations. (more…)
United Soybean Board
When it comes to technology and data available within the agricultural industry, there’s a large amount of choices these days. It’s important retailers understand and are able to provide guidance for their customers about what works well and what doesn’t work as well. Understanding the technologies and datasets are important and how to best use them is even more crucial.
Precision agriculture is a term widely used today in the industry and essentially refers to technology and software systems that provide knowledge to enhance decision making, and if used properly can help contribute to reduced waste, increased profits, and protection of the environment.
Today growers are utilizing precision technology to enhance their growing process, including field application equipment and sensor platforms that control product purchases and can provide recorded data in real-time. Software is also available that can then be used to collect and analyze data to help inform retailers and growers of various decisions throughout the crop production process.
As precision agriculture increases momentum in 2017, here are four benefits and ways that precision agriculture can help growers increase field productivity while also reducing environmental stress.
- Monitor soil and plant parameters: Growers can determine peak conditions for plant growth by placing sensors throughout the fields.
- Automate field management: Soil and plant species can be automatically optimized through sensors taken from a Decision Support System, which can help determine the best moments to water and fertilize.
- Collect real-time data: Applying sensing devices throughout the field will allow a continuous monitoring of the chosen parameters and offers real-time data to help inform decisions throughout the planting and harvest season.
- Get the best results from labor and resources: Use technology to help maximize the benefits of your crop nutrients, crop protection and irrigation costs by using automatic sensors that alert the grower of the need or best time to irrigate, fertilize, etc.
It’s estimated that over 50 percent of growers currently engage in some form of agricultural technology. Precision agriculture can bring many benefits to growers who decide to use technology to help manage their fields.
Ag retailers have the opportunity to help their customers by providing them with local expertise on how the various technology available today, might best be implemented within their geography and more specifically within their individual operation to help them improve their return on investment in the most appropriate ways.
Original Source: Leaders of In-Furrow Technology, West Central
Earnings increase in second quarter on improved conditions across CHS wholesale and retail agricultural related businesses
ST. PAUL, MINN. (April 5, 2017) – CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $14.6 million for the second quarter of its 2017 fiscal year (the three-month period ended Feb. 28, 2017), compared to a net loss of $31 million for the second quarter of fiscal 2016. Operating earnings for the company’s second quarter were $10.5 million, up from a loss of $91.8 million from the second quarter of fiscal 2016. Revenues for the second quarter were $7.3 billion, up 11 percent compared with $6.6 billion for the second quarter of fiscal 2016.
Earnings for the six months of the company’s fiscal 2017 (the six-month period ended Feb. 28, 2017), were $223.7 million, compared to $235.5 million for the first six months of fiscal 2016, a decrease of 5 percent. The decrease is a result of increased loan loss reserves, higher income taxes and continued challenges in the energy operating environment, which were partially offset by improved conditions across CHS wholesale and retail agricultural related businesses.
Revenues for the first six months of fiscal 2017 were $15.4 billion, compared to $14.4 billion for the first six months of fiscal 2016, an increase of 7 percent.
“As our operating environment remains challenging, we continue to act prudently, taking appropriate and measured actions regarding costs and investments, while positioning ourselves to take advantage of opportunities as they arise while focusing on return on our invested capital,” said CHS President and Chief Executive Officer Carl Casale. “We are on a journey and are starting to see the benefits of our focus.”
Many growers are turning to agronomists, ag retailers and other industry experts for advice about the best ways to strengthen their farming operations. Topics including soil health, seed selection, insect and disease pressure and more have long been the starting point for growers looking for the best ways to make improvements that will make their operations stronger overall.
Today, as growers rely even more on data, research and other technology in addition to their traditional farming equipment, agronomists and their network of agricultural experts are as important as ever.
For growers, improving efficiency and making effective decisions can be crucial to achieving a high quality and profitable crop. Since they are always looking to make smart and strategic purchase decisions when it comes to seed, fertilizers, fungicides, insecticides and adjuvants, growers look to utilize the expertise of their agriculture retailer and other ag partner businesses to provide them guidance when making these decisions. Through these agriculture experts, growers hope to successfully plant and produce a high yielding crop by minimizing pest and disease pressures and managing weed resistance to increase overall profitability for their farming operation. (more…)
United Soybean Board
The agriculture industry has been working hard to provide the most effective herbicides to help slow down and minimize the growing weed resistance problem. However, efforts with formulating dicamba products go further than the manufacturer. Federal and state rules and regulations dictate how applicators and growers are able to legally and safely use different herbicides to limit volatility and drift in undesired areas.
With each new year and with new products, comes new policies. It is important for growers, applicators and other ag professionals to be aware of these policies to avoid negative consequences. (more…)
“Growing up in rural South Dakota, surrounded by farms and ranches as far as the eye could see, I never gave the food supply chain a second thought. It was intertwined in everything I did,” writes Mark Biedenfeld, vice president, CHS Aligned Solutions on the Ag Day blog. He goes on to emphasize the important role those in agriculture play in helping our broader communities understand where their food comes from.
Biedenfeld joins others in contributing to the blog in a nod to National Ag Day, coming up this Tuesday, March 21. The celebration is now a tradition across the U.S., created to recognize and celebrate the abundance provided by agriculture. Agriculture provides almost everything we eat, use and eat on a daily basis, and is increasingly contributing to fuel and other bio-products. (more…)