INVER GROVE HEIGHTS, MINN. — Difficult weather and global trade conditions pushed the Ag division of CHS Inc. into a loss during the first quarter ended Nov. 30, 2019.
The unit sustained an operating loss of $13,862,000 during the quarter, versus $80,318,000 in income in the same period a year earlier.
“We are not immune to the challenges of our industry, and our first-quarter results reflect the difficulties brought on by fall weather and ongoing trade tensions,” said Jay Debertin, president and chief executive officer.
CHS blamed the loss on poor weather, which brought a late and small harvest, global trade tensions between the United States and foreign trading partners, and lower margins in processing and food ingredients. Mr. Debertin said the balance of the year “will continue to present challenges.”