Agricultural cooperatives have once again asserted their leadership in the U.S. cooperative landscape, with CHS Inc. and Dairy Farmers of America (DFA) claiming the top two spots in the National Cooperative Bank's 2024 ranking of the Top 100 cooperatives by revenue. Released annually during National Co-op Month, the report highlights the economic contributions of co-ops across various industries, with agriculture emerging as the most dominant.

CHS Inc., a Minnesota-based cooperative operating across energy, grain, and food sectors, led the list with $39.3 billion in revenue. In second place, Dairy Farmers of America reported $23 billion, reflecting its expansive reach in milk marketing and dairy processing nationwide. Combined, these two ag co-ops generated over $62 billion, reinforcing their critical role in the U.S. agricultural supply chain and rural infrastructure.

In total, the 100 ranked co-ops brought in $323 billion in revenue for 2024, with agriculture contributing the largest share. According to Casey Fannon, president and CEO of the National Cooperative Bank, "These organizations demonstrate how cooperative principles continue to drive economic success while supporting communities nationwide." This strong performance reflects how co-ops continue to deliver value amid persistent challenges such as commodity market volatility, input cost inflation, and ongoing supply chain disruptions.

While agriculture led the rankings, other sectors were also represented, including energy, finance, retail, and recreation. Major non-ag cooperatives on the list included Ace Hardware Corp., CoBank, Basin Electric Power Cooperative, Navy Federal Credit Union, and Recreational Equipment Inc. (REI). However, the outsized impact of agricultural co-ops, particularly in terms of scale and community investment, remains unmatched.

For U.S. agriculture professionals - from farmers and co-op managers to agribusiness executives and policy leaders - this ranking is a clear signal of the enduring strength and strategic importance of member-owned organizations. These cooperatives not only return profits to producers but also reinvest in infrastructure, sustainability efforts, and economic development across rural America.

As the industry prepares for the next farm bill and faces increasing pressure to adapt to environmental, logistical, and financial shifts, the leadership role of top-performing co-ops like CHS and DFA will be pivotal. Their continued dominance on this list reflects not just size, but an ability to scale operations while staying true to cooperative values.