(NAFB.com) – CHS Inc., the nation’s leading agribusiness cooperative, released results for its first quarter this week, which ended November 30, 2023. The company reported quarterly net income of $522.9 million compared to $782.6 million in the first quarter of fiscal year 2023. Earnings were strong across all segments, although down from record first quarter earnings in fiscal year 2023. Revenues were $11.4 billion, compared to $12.8 billion in the first quarter of fiscal year 2023. In the Ag segment, continued robust meal and oil demand drove strong earnings in our oilseed processing business that were offset by weak U.S. export demand for grains and oilseeds. CHS President and CEO Jay Debertin says, “We continue to see the benefits of our diversified agriculture and energy portfolio, our strategic footprint, and investments in our supply chain.” CHS reported pretax earnings of $169.7 million for agriculture, representing a $117.6 million decrease compared to the prior year period.