By Joe Lardy, research manager, CHS Hedging
China has had a long-standing policy to be self-sufficient in key food source production, including rice, wheat and corn. In 2004, the Chinese government made historic adjustments to its agriculture policy when it eliminated taxes on agriculture and created a new system of subsidies for key commodities. The subsidies supported seed and machinery purchases and resulted in improved infrastructure.
This set the stage for a huge buildup of acreage devoted to corn production. (more…)
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When you think about propane, what comes to mind? Maybe it’s the tank outside a home. Or the grill in your backyard. Without a doubt, these are both popular uses for propane, but don’t be fooled — there’s a lot more this gas can fuel.
CHS reported net income of $180.1 million for the first quarter of its 2018 fiscal year (three-month period ended Nov. 30, 2017), compared to net income of $209.2 million for the same period a year ago.
Consolidated revenues for the first quarter of fiscal 2018 were $8.0 billion, the same as fiscal 2017. Pretax income was $199.6 million and $225.6 million for the first quarter of fiscal 2018 and 2017, respectively.
“Despite challenging market conditions, CHS experienced a solid first quarter thanks to our continued focus on three key priorities: strengthening relationships, sharpening operational excellence and restoring financial flexibility,” said CHS President and Chief Executive Officer Jay Debertin. “In the first quarter, we recorded solid earnings from our businesses and reduced long-term debt. These actions are helping to strengthen and grow CHS.”
High school students across the United States are encouraged to share their views about agriculture’s role in a growing world through the 2018 National Ag Day Essay Contest.
The contest deadline is January 31. This year’s theme is “How Will Agriculture Feed the World?” The contest, organized through Agriculture Council of America (ACA), is divided into two categories: the written essay contest and the video essay contest. Both are national competitions and there will be one winner for each category. (more…)