CHS Inc. and Cargill reported earnings recently that show continued challenges in the agriculture economy. (DTN photo by Elaine Shein)

OMAHA (DTN) -- Recent earnings reports in the past week from two of the nation's largest agribusinesses continue to show the strain agriculture faces.

CHS Inc. reported a 70% drop in net income in its 2019 third-quarter earnings report on Monday, from the same time period in 2018. However, when comparing the first nine months of fiscal year 2018 and 2019, the company showed an increase in overall net income.

CHS, the largest farmers cooperative in the country, reported a net income of $54.6 million for the recently ended third quarter, compared to $181.8 million in the third quarter of 2018.

Overall, however, CHS generated an increase in net income for the first nine months of fiscal year 2019 to $650.9 million, or an increase of 21.5% compared to the first nine months of fiscal year 2018.

CHS owns and operates in food processing and wholesale, farm supplies, Cenex brand fuel, financial services and retail businesses. The company is a co-owner of vegetable oil processor Ventura Foods.

On the agriculture side of the ledger, CHS reported a $39 million decrease in earnings as a result of "decreased margins and volumes for grain and oilseed, poor weather conditions, including heavy snow and rainfall, historic flooding on waterways and continuing global trade tensions."

CHS President and Chief Executive Officer Jay Debertin said in a news release the company continues to battle the same headwinds all agriculture experiences.

"The uncertainty of the international trade markets continues to create difficult circumstances for all who work in agribusiness," he said.

"Weather challenges led to late planting that has hurt our owners -- America's farmers and cooperatives that help grow the food to feed the world. We traveled throughout our trade territory this spring to meet with our owners, and every location we visited was impacted by heavy spring rains and late planting. At CHS, we are working to navigate external challenges, and we are committed to leveraging the strength of our supply chain to help our owners and customers navigate as the year progresses."