The largest farmer-owned cooperative, CHS Inc., said earnings were down by 26 percent for the first nine months of its fiscal year, “primarily due to lower average prices for the refined energy products, grains and fertilizer that make up a significant portion of CHS business.” Based in Saint Paul, CHS reported earning of $649.6 million for Sept. 1, 2014-May 31. Revenues of $26.6 billion were down by 19 percent from the same period a year ago.
The downturn in commodity prices since 2012 has affected other agribusinesses because of lower farm income. For example, Deere and Co., the largest farm equipment maker, said in May that its equipment sales were down by $3 billion over a six-month period.