GRAND FORKS, ND. — North Dakota Mill and Elevator posted first-quarter profits of $2.33 million, down from $3.33 million a year ago, according to KNOX radio.
Timing issues and market swings contributed to the decrease, said Vance Taylor, president and chief executive officer.
Spring wheat accounted for more than 92% of sales for the mill, with durum a little over 7%.
Mr. Taylor said he’s optimistic about the rest of the year, noting the above-average spring wheat and durum crop. He presented the numbers to the North Dakota Industrial Commission, which met in Grand Forks to mark the 100th anniversary of the state-owned mill.
The North Dakota Mill and Elevator Association was created in 1919 by House Bill 20 and started operations in Grand Forks on Oct. 30, 1922.
The mill is the largest single flour mill in the United States and has 10 milling units within the complex with a daily capacity of 60,500 cwts.