There was a small uptick in phosphate sales ahead of Hurricane Irma’s arrival in Florida, where the bulk of North American phosphate production is located. Phosphate facilities there shut down as part of their hurricane preparedness plans.
Early reports from manufacturers are that damage at the facilities appears to be limited, but full assessment will take time. Some finished product has sustained water damage but no exact estimates have been released yet.
A major manufacturer expects to be able to resume production fairly soon, but says its third quarter production volumes could be impacted by the storm disruptions. It had stopped making price offers to either domestic or international customers until late Thursday, Sept. 14. The market has reacted and prices moved up significantly late last week.
Several import vessels of phosphates are arriving in the Gulf this month, including one vessel with CHS cargo, which arrived and was unloaded in between hurricanes. Most of that product is now making its way up the river system.
Staff at CHS terminals are busy filling orders and working with accounts to get product in position before the busy harvest season gets underway across the Cornbelt. CHS is working hard to make sure producers are being kept informed of any supply changes or concerns that might arise from the recent storm damage to production facilities or transportation infrastructure.
CHS has announced open enrollment for corn and soybean marketing contracts through CHS Pro Advantage now through December 13, 2017. New this year, contracts for spring wheat are also included in this enrollment period.
CHS Pro Advantage gives growers access to industry experts at Russell Consulting Group, a wholly-owned subsidiary of CHS, to price and sell their grain. This helps to manage risk while delivering superior profits even during a tough market.
“With wheat futures falling from three-year highs seen just a few months ago and volatility following USDA’s August report, now is the time to commit bushels for professional management and marketing by our hedging experts,” says Kent Beadle, director, Russell Consulting Group.
Growers can enroll 2018 and 2019 bushels. Bushels in the one-year program will be priced between December 18, 2017, and August 24, 2018. Bushels in the two-year program will be priced between December 18, 2017, and August 23, 2019.
If you’re interested in knowing more, contact your local grain team for more information or visit the CHS Pro Advantage website.
This satellite image shows the Pacific Northwest smoke and burning areas on September 5, 2017. SOURCE: NASA
Western wildfires have much of Washington, Oregon, Idaho and Montana under a thick blanket of smoke. And while the smoke is cancelling and rescheduling sports activities, it is also causing concern for the state’s ranchers.
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. Click here for more photos and story.
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…)