CHS Inc. has reported a net income of $347.1 million for the first quarter of fiscal 2019. “Our strong first quarter results position us well as we start our 2019 fiscal year,” said Jay Debertin, CHS president and chief executive officer. “We are focused on making CHS our customers’ first choice by advancing our technology solutions and equipping employees to meet the changing needs of our customers around the world. We will do this while maintaining financial discipline and rigor.”
The 2018 CHS Annual Meeting wrapped up December 7 as more than 1,900 CHS member-owners took part in educational sessions, board elections and governance, and heard company updates in Minneapolis, Minnesota. A recap of the meeting, including the 2018 CHS Annual Report, videos and photos is ready to view.
During CHS Board elections Friday morning, CHS owners elected a farmer from Nebraska and re-elected four other farmers to serve three-year terms on the board. CHS Directors must be full-time farmers or ranchers to be eligible for election to the 17-member board.
Newly elected Director David Beckman of Elgin, Nebraska, succeeds Don Anthony of Lexington, Nebraska, who retired after serving on the board since 2006. Along with his wife, brother and their families, Beckman raises irrigated corn and soybeans and operates a custom hog-feeding operation. He received his bachelor’s degree in agronomy from the University of Nebraska-Lincoln, and he serves as board chairman for Central Valley Ag Cooperative, York, Nebraska, and secretary of the Nebraska Cooperative Council.
Re-elected were Steve Fritel, Rugby, North Dakota; David Johnsrud, Starbuck, Minnesota; David Kayser, Alexandria, South Dakota; and Russ Kehl, Quincy, Washington.
Following the annual meeting, the CHS Board re-elected Dan Schurr, LeClaire, Iowa, to a one-year term as chairman. Other directors selected as officers for 2019 were:
J. Blew, Castleton, Kansas, first vice chairman
David Johnsrud, Starbuck, Minnesota, secretary-treasurer
Jon Erickson, Minot, North Dakota, second vice chairman
Steve Riegel, Ford, Kansas, assistant secretary-treasurer
CHS Inc., the nation’s leading farmer-owned cooperative and a global energy, grains and foods company, today reported net income of $775.9 million for the fiscal year that ended Aug. 31, 2018.
“Our fiscal 2018 results show the progress we are making on the priorities we set for CHS,” said Jay Debertin, CHS president and chief executive officer. “Our year-over-year financial performance shows good improvement, our balance sheet is solid, and our relationships with cooperative owners are strong. The diverse CHS business platform allowed us to deliver improved earnings and enables us to return $150 million in cash patronage and equity redemptions to owners even as we navigated challenging market conditions.” (more…)
By Erin Wroge, CHS market supervisor, Cenex brand lubricants
Choosing the right engine oil for your equipment can get complicated fast. Today’s diesel engine oils are more advanced than ever, and with all the options on the market today, it’s no wonder if your head is spinning. Viscosity control? Shear stability? TBN retention? It can almost feel like you need an advanced degree in mechanical engineering just to pick the right product for your equipment.
Not everyone is a lubricants expert, and they shouldn’t have to be. Still, choosing the right engine oil is a critical decision. The oil inside your heavy-duty equipment is a protective barrier against thousands of pounds of pressure and constant stress. Without the right premium lubricant, your equipment can wear itself down to the bone — incurring costly damage and downtime.
The good news is that picking an engine oil doesn’t have to be rocket science. Cenex® offers a full line of high-quality lubricants designed to meet a variety of heavy-duty applications. To determine which product is right for your operation, just ask yourself these four simple questions. (more…)
The CHS Foundation, funded by charitable gifts from CHS Inc., announced it has awarded more than $440,000 in cooperative education grants to projects that will help students learn about the cooperative business model and what makes cooperatives unique.
“October is National Co-op Month to raise awareness about cooperatives. What better time to celebrate how the CHS Foundation has supported cooperative education projects for more than 20 years?” says Nanci Lilja, president, CHS Foundation. (more…)
Crops demand nutrition throughout the entire growing period, but most of them can’t utilize those nutrients effectively during early development. A shortage of nutrients can lead to significant yield loss and stunted plant development.
How effectively those nutrients are managed in the spring can affect how the crops look in the fall. Weather and other pest and weed influences can also impact crop growth and development, but good nutrient management is essential as crops reach the final stages of growth. As crops move through the grain fill period in the fall, growers need to keep an eye out for nutrient deficiency symptoms. (more…)
Patronage and equity are key benefits for owners of CHS and the cooperative system. CHS is committed to distributing patronage and redeeming equity for its owners while maintaining a strong balance sheet so it can continue to provide owners with the goods, services and supply chain capabilities required for long-term success.
Following the close of fiscal 2018, the CHS Board of Directors has announced the following patronage and equity distribution decisions: (more…)
Trade is a critically important part of business for CHS and for our farmer-owners, yet U.S. trade policy remains uncertain and dynamic. Tariffs being applied to imports from China and other important international markets – and resulting retaliatory measures from our trading partners – could have an impact across the entire CHS enterprise. This could offer significant challenges as our owners move toward harvest this fall. (more…)
As you begin making plans for next year’s seed purchases, we want to let you know about exciting new opportunities in our seed offerings through all of our CHS Elburn locations.
As we continually look for ways to help you grow your operations, we are proud to now offer Allegiant® seed. Allegiant is a CHS brand, which means it is a brand owned by you. We have focused on putting advanced technology to work for you with genetic traits designed to bring you strong performance at a sensible price. It’s a brand grown by CHS farmers for CHS farmers and is sold exclusively through CHS. Currently, seed is available for corn, soybean, sunflowers and spring wheat, and we are continually adding more varieties each year.
With this, we are now able to offer our growers a look at Agellum™, the farm planning and management tool from CHS that seamlessly pulls together data from all your machinery, apps, sampling, scouting, weather and endless other sources into one platform with a single login. Having everything in one place will make it easier than ever for you to make smart decisions and plans.
We have also recently completed seed contracts with Syngenta and Monsanto to bring you a variety of seed options through Dekalb®, Asgrow® and NK®. All of these brands have a history of solid performance and commitment to innovation and the latest technologies.
As always, these offerings come with the support of our local CHS agronomy experts — local professionals that know your farm so they can tailor a customized plan that starts, literally, from the ground up.
With these changes, we will no longer be offering Pioneer® seed at any of our locations. Though this could mean a change for some of you, we are confident that this expanded selection offers something for everyone. Call your local agronomy contact and schedule some time to talk about these changes. Our agronomy team is excited to show you all that we have to offer.
Thank you for your business. We look forward to continuing the valued relationship we have built over the years with you and your operation.