Giant agriculture cooperative CHS Inc. announced earnings today.
Earnings were way above last years quarter with net income of $219 million compared to last years quarter of a $38 million dollar loss. Finally (after years of marginal earnings in a business they had invested billions in) the investment in nitrogen production paid off with pretax income of $154 million from that business. 6 month net income was over $600 million compared to $31 million last year.
Of course CHS has 5 high yield preferred outstanding–all of which remain at high prices–they can be seen here.