North Dakota state mill profits down from low wheat prices
BISMARCK, N.D. (AP) – North Dakota’s state Mill and Elevator says its profits were down more than 40 percent due to depressed wheat prices.
The Grand Forks mill on July 27 reported making $9.3 million during its last budget year, which ended in June.
That’s down from a record $16.7 million profit set last year. The mill has posted a profit each year since 2009.
The mill sells most of its flour in bulk to bakery customers. It also sells small, family-sized bags of flour through grocery stores.
Most of the mill’s profits go into North Dakota’s general fund, which finances a variety of state programs.
The state Industrial Commission is the mill’s board of directors. Its members are Gov. Jack Dalrymple, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring.