The Andersons, a US grain merchandiser and distributor, has reported net income for the second quarter to 30 June of US$7.8m, compared to $8.8m a year earlier.

Second-quarter revenues were $312m, compared to $301.1m in the year-ago period.

The Ohio-based company said US corn, soybean and wheat stocks have fallen to five-year lows, resulting in lower levels of grain for the company to handle, reported Reuters.