The state Mill and Elevator in Grand Forks is reporting its profits are down – compared with this time last year.
Mill manager Vance Taylor says over the first six months of the fiscal year, the Mill made $4.9 million. That compares with the $9 million profit it showed in the first six months of fiscal 2015.
"The biggest thing driving it is low commodity prices for wheat and durum," said Taylor. "Makes it tougher for us to eke out that extra few cents on each sale."
But Taylor says the mill is doing well. He says profit is similar to what the mill saw in fiscal 2012 and 2013. And he says the mill’s volumes are actually up, compared with last year.
"I think our volume was up by about five percent for the first half of the year," said Taylor. "We see that continuing on through the end of the year."
And Taylor says a new milling unit will be on-line by the end of the fiscal year. He says that should help increase volume and profit.