Ceres Global Ag Reports Financial Results For FY2017
Minneapolis, MN, (September 22, 2017) – Ceres Global Ag Corp. (TSX: CRP) (“Ceres” or the “Corporation”) today announced its financial and operational results for the fiscal year ended June 30, 2017. All amounts are in U.S. currency unless otherwise noted.
“Despite encouraging signs early in the quarter, unfavorable market conditions resulted in financial results below our expectations,” said Robert Day, President and CEO of Ceres, “Export volumes and margins out of Duluth/Superior were a disappointment as U.S. prices of Spring Wheat and Durum were high and less competitive in the world market. Also, due to tight supplies in Canada at the end of the harvest year we were challenged to purchase product at Northgate to fill previously made sales.”