1Q FY 2018Canada NewsWire MINNEAPOLIS, MN, Nov. 14, 2017 MINNEAPOLIS, MN,Nov. 14, 2017/CNW/ -Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or the "Corporation") today announced its financial and operational results for the three-month period endedSeptember 30, 2017. All amounts are in U.S. currency unless otherwise noted. CEO Commentary "Despite a delayed harvest and an increasingly challenging environment for our industry overall, we managed to improve gross margins by$1.2 millionvs. the same quarter a year ago," saidRobert Day, President and Chief Executive Officer of Ceres. "Volumes for the quarter were less than initially anticipated, however, margins were better year on year, which was made possible by the learning and skill-building that was obtained from the significant increase in volume last fiscal year." "Our goal is to be recognized by our customers as providing superior service and to be compensated fairly for doing so," Mr. Day continued. "Through consistent purchase and supply of raw materials, value-added products and supply chain services we are moving closer to that goal." Summary Financial and Operational Results (in thousands of USD except per share and bushels handled) Three months ended September 30, 2017 Three months ended September 30, 2016 Revenue $130,638 $155,927 Gross profit (loss) $3,063 $1,871 EBITDA1 $1,523 $744 Income (loss) from operations $519 $(605) Net income (loss) $(806) $(1,356) Earnings (loss) per share - Basic $(0.03) $(0.05) Total bushels handled and merchandized 27.2 million 35.0 million Financial and Operating Highlights for Q1 FY2018 Generated revenue of$130.6 million, a 16% decrease from Q1 FY2017.Increased gross profit 64% to$3.1 millionfrom Q1 FY2017 due to increased storage and rental income.Handled 50% more third-party bushels of grain and oilseed compared to Q1 FY2017.Total number of bushels handled and merchandised decreased by 22% as a result of a late harvest season.Increased income (loss) from operations$1.1 millioncompared to Q1 FY2017.Generated$13.6 millioncash flow from operations, a 172% increase from Q1 FY2017.The previously disclosed trial by jury of the Scoular litigation was delayed and is now expected to start in Q3 FY2018. Outlook Mr. Day continued, "The summer droughts across the U.S. upper Midwest and prairies inCanadagenerated widely varied crop qualities and yields. As a result, trade flows are slightly different from what was expected and we are adapting to those changes. Specifically, we are handling less volume vs. a year ago, but we're focusing on trade flows where margins are most attractive, which we expect will lead to a better result overall." "At Northgate, early stage volumes in our partnership with Koch Fertilizer Canada have exceeded expectations," Mr. Day added. "Our state of the art infrastructure is providing Koch's customers with the most efficient turnaround times in the industry, and in many cases those same trucks are first hauling grain before picking up fertilizer. Meanwhile, liquid natural gas volumes have been better than expected as the market has been spurred on by U.S. demand." Conference Call Details Ceres will hold a conference call to discuss its Q1 FY2018 financial and operational results onWednesday, November 15, 2017at1:00 pm ET.Robert Day, Ceres' President and CEO, andKyle Egbert, Ceres' CFO, will co-chair the conference call. Read more at https://www.stockhouse.com/news/press-releases/2017/11/14/ceres-global-ag-reports-financial-results-for-q1-fy2018#KevfTTyvMTBP4iHd.99