CHS reported net income of $422.4 million for the fiscal year that ended Aug. 31, 2020. This compares to fiscal year 2019 net income of $829.9 million.
Key financial drivers for fiscal year 2020 include:
Consolidated revenues of $28.4 billion for fiscal year 2020 compared to $31.9 billion for fiscal year 2019.
Strong supply chain performance in our propane business driven by efficiently sourced propane to customers to meet strong crop drying and home heating demand that contributed to improved results especially during the first half of fiscal year 2020.
Less advantageous market conditions in our refined fuels business, primarily driven by the COVID-19 pandemic, resulted in volume and price declines that significantly reduced earnings compared to the prior year.
Poor weather conditions negatively impacted our Ag segment’s operations during the first half of fiscal year 2020, resulting in lower crop yields and poor grain quality following a late harvest and lower crop nutrient sales during fall 2019.
Improved weather conditions during the 2020 spring planting season drove increased earnings across much of our Ag segment in the second half of fiscal year 2020.
Corn and soybean harvest is well underway, and it’s been a good fall. We’re glad to see that progress, although this week’s weather has forced a pause in many areas. We hope you are enjoying a safe, productive season and look forward to speaking with you at the virtual 2020 CHS Annual Meeting on Dec. 3.
Thank you for your business. Please let us know how we can help you complete this season and move into 2021.
Click here to hear more from CHS President and CEO Jay Debertin.
During October, CHS is joining cooperatives across the U.S. to celebrate Co-op Month. As part of the cooperative system, CHS is committed to supporting and strengthening owners and communities with diverse ideas, equity and inclusion.
The following information is provided by Nationwide, the #1 farm and ranch insurer in the U.S.1
During the busy harvest season, farms and grain-handling facilities are some of the most dangerous places to work. Slips and falls from ladders, entanglements from augers and PTOs, crushing injuries from grain truck and railroad traffic, grain bin entrapment and engulfment from grain bin entry, and fires and explosions from grain dust accumulation, are just some of the hazards.
By Chad Christiansen, Product Quality and Additives Manager in Agriculture and Farming, CHS from the Cenexperts blog
Farmers have enough on their plates without needing to deal with water in their diesel. Despite their best efforts, though, sometimes accidents happen. Luckily, there are ways to remove water from diesel and methods to prevent water contamination from happening again.
We may not be meeting in person right now, but we still want to bring you valuable information to navigate volatile and weak commodity markets. Please join us online to discuss the markets and learn more about CHS Pro Advantage for corn, soybeans and wheat on Tues., Aug. 4, 10 a.m. CST.
CHS reported net income of $97.6 million for the third quarter of fiscal year 2020 that ended May 31, 2020. This represents a 78.8 percent increase compared to net income of $54.6 million in the third quarter of fiscal year 2019.
Harvest is just around the corner and we would like to give all our valued patrons an update on this year’s safety precautions. It is our goal to keep you, your truckers, and our staff as safe as possible.
Driver procedures: Please let your drivers know that they will need to stay in their trucks at all times during unloading, unless there is a mechanical issue with the truck. In that case, we have instructed our employees to move out of the immediate area to let the driver fix whatever may be wrong. At all locations we will be opening the gates on your trucks to unload your grain.
Only at our LOMO (Lower Monumental) facility will drivers need to exit vehicles. When scaling in, the driver will need to pass the bill of lading through a mail slot we have installed in the door to the office, then retrieve the scale ticket through that same mail slot after scaling out.
Bruce moisture test sample change: At our Bruce location, the grower will hand the container through the window located in the scale room without entering the building. At the probe, we ask that drivers un-tarp their own trailers.
Wheeler location update: We have recently installed a kiosk, card reader and intercom system at Wheeler. All growers intending to dump at Wheeler will need to receive a card, for each truck, to identify the account the grain will be delivered under. Please contact us prior to harvest so we can mail these to you or arrange pickup. When scaling out, the truck will receive a weight ticket at the kiosk, used to track each load. If you have any questions, please feel free to reach out to anyone in the Wheeler office.
Kennewick upgrade: We are very excited about recent facility upgrades at Kennewick and think you will notice the difference this harvest.
Reminder: When delivering grain to our Kennewick and LOMO facilities, all loads delivered must have a Bill of Lading (BOL) with the producer’s name, account number and type of wheat delivered.
Please fill out the this BOL form and mail or email to us so that we can get BOL’s to you before harvest.
Each producer is responsible for having the correct BOL with each load delivered. Make sure BOL’s have the correct commodity identified.
If you are using custom harvesting or trucking, please make sure they have a copy of the BOL to help cross reference loads delivered.
Grades are usually available about 3-4 days after delivery depending on the number of samples at the USDA office. We will have those grades available to you just as soon as they are posted on the USDA website.
Other locations news: At the Moses Lake grain accounting office and other locations like Connell and Bruce, we have implemented additional safeguards. Please conduct as much business as possible over the phone or email. You can find online account access at my.chsinc.com. Tasha Gentry would be happy to help you become familiar with the features it provides, such as yield reports by field. If it is not possible to handle business remotely, please contact our office in advance so we can be aware you are coming in. We are limiting customers in our Wheeler office to one at a time to maintain distancing of 6 feet.
Let us know if you have any changes to your accounts (split percentages, name or address changes), need a new account set up or new cards for your trucks. As we look forward to another successful harvest, please let us know if we can do anything to help make your harvest process go smoother!
CHS SunBasin Growers Grain Team Camron (Camron.Bishop@chsinc.com) Mike (Michael.Lowry@chsinc.com) Tasha (Tasha.Gentry@chsinc.com) Debbie (Debbie.Norris@chsinc.com) Danielle (Danielle.Mathenia@chsinc.com) Wheeler Grain Acct Office: 509-765-3881
CHS SunBasin Growers 3132 Road O NE Moses Lake, WA 98837