North Dakota's state Mill and Elevator lost $820,000 during its last budget year. It's the mill's first annual loss in 14 years.

Mill manager Vance Taylor says high wheat prices, less flour demand and difficulties in futures trading accounted for the loss.

The mill's budget year ended June 30. The mill was profitable during the first nine months of the budget year. But in April, May and June, it lost more than $3.8 million. That drove its annual earnings number into the red.

Taylor says last spring's wheat futures markets were unusual. As a result the mill was using more expensive wheat, and flour prices didn't make up the difference.

- Associated Press