CHS Inc., St. Paul, reported
net income of $125.4 million for the second-quarter ending Feb. 29, 2020, down
from the year-ago $248.8 million. Revenues were up at $6.6 billion from the
year-ago $6.5 billion. A drop in Energy segment pretax earnings were the major
catalyst for the drop; they were down to $138.9 million from the year-ago
$306.6 million. Ag income, while still in the loss column at $20.8 million, was
improved over the year-ago loss of $62.4 million.
NOLA barge prices for DAP/MAP and urea were reported to be pushing higher in early week trading. DAP barges were reported to have hit as high as $290/st FOB, though others reported lower numbers. The week-ago high was $275/st FOB. Granular urea pricing was firming as well, with sources expecting new trades to top the week-ago highs of $270-$272/st FOB.
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