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.
We’re launching another new feature available to our producers through the MyCHS app! The Grain Summary is a new report that totals a customer’s grain payments over a calendar year or any selected timeframe. It can be found in the top left menu on the home page of MyCHS under the Reports drop-down section.
Benefits of the Grain Summary:
Subtotals of dollars paid by commodity
Pull grain payment information easily by calendar year, or customize the date range
Data includes gross amounts, total charges and net paid amounts from grain sales
Easily print or save the report as a PDF for records or to send to key business partners
Updates several times per day and is available online 24/7
Log into MyCHS today to see the benefits of this new feature. If you have any questions, please contact firstname.lastname@example.org.
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.
Just in time for fall harvest, a helpful new feature is available to producers through the MyCHS app! Proof of Yield, a report that totals a customer’s grain deliveries by bushels over any selected time frame, is now available in MyCHS.
With the Proof of Yield report, producers will be able to:
See subtotals per commodity
View simple summaries of total grain bushels by year and commodity
Pull historic data, as past years are often needed and MyCHS provides that data
Verify the details of grain deliveries including dates, bushel, weight, test weight and moisture
Easily print or save report as a PDF
It’s useful for insurance and U.S. government for crop claims (determines APH history, too!)
It’s flexible to pull by month, calendar year, or a custom date range
Easy access to send to key business partners such as accountants, insurance agents or tax partners
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.
Keeping our communities, customers and employees safe is a core value at CHS. Through the CHS Country Operations Seeds for Stewardship grant program, CHS is proud to support local organizations that focus on safety, agriculture industry leadership and supporting rural communities.
The Holyoke Fire Protection District received a $3,000 grant from CHS Grainland to purchase grain bin rescue equipment for the Holyoke Volunteer Fire Department through the CHS Country Operations Seeds for Stewardship grant program.
“Rural communities work hard to keep people safe while building and developing tomorrow’s leaders,” says Evan Fust, general manager, CHS, “We are thankful for those who are dedicated to making sure our communities continue to be strong, safe places for our customers and employees to live and work together. Their great work helps build connections that empower agriculture and our communities.”
Since 2019, CHS ag retail locations across the U.S. have awarded more than $340,000 to local organizations through the Seeds for Stewardship program. The funds provided in 2020 are being used to help protect firefighters, engage students in ag leadership and education projects, sustain local 4-H and FFA groups, and build gathering places where 4-Hers and community members can meet.
The grain rescue equipment purchase includes a portable rescue grain auger, patient rescue stretcher, and rescue personnel harnesses.
“Through training and a response to a grain rescue call, we had determined the need for this additional equipment. CHS Grainland has been a great partner for the Holyoke Volunteer Fire Department over the years, and we appreciate their continued support on this project,” says Holyoke Fire Chief Stacy Rueter.
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.