It wasn’t an all-time high, but North Dakota’s state-owned flour mill posted a healthy $9.3 million profit in fiscal year 2016 as record shipment volumes helped offset tough wheat market conditions, President and General Manager Vance Taylor said Tuesday.
The State Mill and Elevator in Grand Forks reported unaudited profits of $9,336,618 for the year ending June 30, down 44 percent from a record $16.7 million in fiscal year 2015.
It was the lowest annual profit since the mill cleared $8 million in 2012, reflecting depressed wheat prices that shrank the mill’s profit margins.
To read the rest of the story, please go to: Forum News Service
