World Grain - August 2011 - 14

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CHS reports increase in nine-month earnings
ST. PAUL, MINNESOTA, U.S. — CHS Inc. on July 8 reported income of $754.8 million through the third quarter of its 2011 ﬁscal year. Earnings attributed to CHS operations through the third quarter (Sept. 1, 2010 – May 31, 2011) increased nearly 117% over $348.1 million for the same period in ﬁscal 2010. Revenues through the third quarter of ﬁscal 2011 reached $26.3 billion, up from $18.6 billion through the third quarter of ﬁscal 2010, reﬂecting continued higher values for the energy, grain and crop nutrients products CHS handles. For the third quarter (March 1 – May 31), CHS posted income of $358.5 million, compared with $145.4 million for the third quarter of ﬁscal 2010. Revenues for the quarter were $10.5 billion, up from $6.6 billion a year ago. Year-to-date earnings for the company’s energy segment reﬂected strong margins for its petroleum reﬁning operations driven by global market conditions, along with strong performance for its renewable fuels marketing business. The company’s ag business segment — consisting of its grain marketing, crop nutrients, local retail operations and oilseed processing businesses — also recorded strong results attributed to both increased grain demand and fertilizer activity. Ag business earnings also included a gain of $119.7 million on the sale of the company’s share of Multigrain, AG, a Brazilian agribusiness joint venture.

Black Sea Grain and Oilseeds Conference to be held in Moscow
MOSCOW, RUSSIA — The Russian Grain Union (RGU) together with the Institute for Agricultural Market Studies and under the auspices of the Ministry of Agriculture of the Russian Federation will hold the 17th Annual International Black Sea Grain and Oilseeds Conference Sept. 8 at the Renaissance Moscow Hotel. The theme for this year’s conference is: “Year After: Searching for Successful Equilibrium Between Domestic and Export Grain Markets Development.” The RGU noted that historically, the conference is a forum for active discussion on the current situation at grain and oilseed markets in Russia and globally. One of the world’s leading experts on the world grain and oilseed markets, Dan Basse, president of AgResource in Chicago, Illinois, U.S., will also be a featured speaker. Last year’s event in Moscow drew 200 representatives from more than 165 companies in 21 countries including Russia, Ukraine, Kazakhstan, Egypt, Morocco, Turkey, the U.S., Canada, India, South Korea, Great Britain, France, Italy, the Netherlands, Germany and other countries. For more information on the conference, please send an e-mail to sau@grun.ru.gaa@grun.ru or visit http://grun.ru/en.

For more information, see Page 110.

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World Grain - August 2011

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