Farmer-owned cooperative CHS Inc. (Nasdaq: CHSCP), which operates a grain elevator in Superior, reported record net income of $1.26 billion for fiscal year 2012, the first time a U.S. agricultural cooperative has surpassed the $1 billion earnings mark. The net for the year ending Aug. 31 increased 31 percent from the $961.4 million reported for fiscal 2011, which was also a record.

Quarterly net income was $360.9 million versus $206.5 million one year ago.

"The strength of our diverse CHS business portfolio, along with a strong domestic and global footprint, combined in fiscal 2012 to allow us to successfully navigate continued market volatility and deliver record results for the U.S. farmers, ranchers and cooperatives who own us," Carl Casale, CHS president and chief executive officer, said in the report.

• Cooper selected to succeed Hagen at Riverwood - 5/23/2013
• Ojard announces retirement - 5/23/2013
• Man dies in Superior industrial accident - 5/22/2013
• Radisson plans June 6 reopening - 5/22/2013
• Ground broken for new Superior SuperOne store - 5/21/2013