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National & World Ag News Headlines
CHS Reports $69.7 Million in Quarterly Net Income
USAgNet - 01/08/2021

CHS Inc. reported net income of $69.7 million for the first quarter of fiscal year 2021 that ended Nov. 30, 2020. This compares to net income of $177.9 million in the first quarter of fiscal year 2020.

Impacts in the CHS Ag segment included improved relations between the United States and foreign trading partners that drove increased volumes and margins for grain and oilseed.

Favorable weather conditions during fall harvest compared to the prior year also drove increased volumes and margins across the Ag segment.

"Our employees' commitment throughout the first quarter allowed us to consistently deliver products and services to our owners and customers around the world," said Jay Debertin, president and CEO of CHS Inc. "A good growing season led to a good harvest season, and we saw commodity price rallies from spring and summer carry into fall. Those good weather conditions led to the highest volume fall fertilizer season we've seen since 2013 despite volatility in the nitrogen and phosphate markets.

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