St. Paul, Minn.-Agriliance LLC, the remaining retail joint venture between Land O’Lakes Inc. and CHS Inc., reported a net loss of $23.5 million on sales of $210.6 million for the first quarter ending Nov. 30, 2007, according to filings by parent CHS. This compares to a year-ago loss of $31.4 million on sales of $670 million. CHS and LOL acquired Agriliance’s crop nutrient and crop protection businesses, respectively, in September 2007, leaving only its retail distribution business with the joint venture. There was anticipation last fall that the remaining entity would be repositioned or sold; however, news of such an event has not been forthcoming. In the meantime, CHS reports that during its first quarter it and LOL each contributed $230 million to Agriliance to support its working capital requirements, primarily for crop nutrient and protection product trade payables that were not assumed by CHS or LOL upon the distribution of those assets to parents.
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