Typical corn in Cuba is only used for local, domestic consumption.
CHS Prairie Lakes Sales Manager Erica Boyum recently joined a diverse delegation of state agricultural leaders on a trade mission to Cuba. The trip was led by Minnesota Lt. Gov. Tina Smith and included State Sen. Julie Rosen and Agricultural Commissioner Dave Frederickson.
The delegation visited Cuba at an interesting time, as President Trump revealed the administration’s new policies concerning Cuba days before they left. The group met with a variety of organizations during their time in Cuba including the Institute of Animal Sciences, the Ministry of Agriculture, and the Ministry of Foreign Affairs. U.S. policies towards the island, particularly those related to agriculture, were top of mind with Cuban leaders and organizations.
CHS has partnered with The American Society of Agronomy (ASA) to collaborate in creating a dynamic, online-learning program focused on improving sustainability practices and standards in production agriculture. The curriculum will be designed for agronomists and agribusiness professionals and will establish a recognized, industry-wide standard of education to help agronomists and other agriculture professionals truly implement sustainable practices in the field. (more…)
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.
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…)
The CHS Board of Directors has elected Jay D. Debertin as president and chief executive officer (CEO) of CHS. Debertin succeeds Carl Casale, who led CHS during record performance levels and expansion.
During Casale’s seven years with the company, CHS returned $3 billion to its owners, invested $9 billion in new capital expenditures and nearly doubled the size of its balance sheet from $8.7 billion in 2010 to $17.3 billion at the end of fiscal 2016. Casale focused on prudent fiscal management and enhancing management systems at the company.
“As we take our cooperative into its next chapter, we are confident that Jay is the right leader,” says Dan Schurr, chairman of the CHS Board of Directors. “Jay’s experience in achieving operational excellence and driving results fits squarely with our unwavering goal to deliver returns to our member-owners now and for the long term.”
Debertin previously served as executive vice president and chief operating officer for the company’s diverse energy operations and processing food ingredients business. He joined CHS in 1984 and has held a variety of leadership positions within the organization in energy, trading and risk management, transportation, and agricultural processing. Jay also serves as chairman of Ventura Foods.
“CHS is strong today because we drive the business with a central purpose in mind and that is to help our cooperatives and farmers grow,” says Debertin. “I look forward to working with our talented group of employees as we concentrate on world-class execution across our system. I see growth and strength ahead for our business.”
Additionally, Darin Hunhoff, who has been with CHS for 25 years in a variety of leadership positions, most recently as head of CHS strategy, will step into the role of leading CHS Energy and the processing and food ingredients business.
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.”