It’s been a tough year for America’s largest farmer- and rancher-owned cooperative. CHS — which provides fuel and farm supplies to farmers and then buys the harvests to sell — saw its net income drop from $424.2 million in fiscal year 2016 to $127.9 million in fiscal year 2017, while consolidated revenues jumped about 5% to $31.9 billion. The agribusiness attributes the plunge in part to “significant charges” related to the bankruptcy of a Brazilian trading partner. CHS President and CEO Jay Debertin said the company is focusing on three priorities for 2018: strengthening customer and owner relationships, focusing on operational excellence, and restoring financial flexibility.
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