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  <TITLE> CHS Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	March 31, 2006
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  	CHS Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Minnesota
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  	0-50150
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  	41-0251095
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	5500 Cenex Drive, Inver Grove Heights, Minnesota
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  	55077
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	651-355-6000
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 8.01 Other Events.
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  On March 31, 2006, CHS Inc. acquired an additional 17,500,000 shares of Class A Common Stock of US BioEnergy Corporation (US BioEnergy) at a purchase price of $2.00 per share for a total purchase price of $35,000,000.  This investment increased CHS&#x2019; holdings of US BioEnergy to 52,500,000 shares of Class A Common Stock with a total investment of $70,000,000.  CHS&#x2019; holdings represent approximately 30% of the outstanding shares of US BioEnergy, however, the Company&#x2019;s percentage ownership could be reduced to approximately 23% if US BioEnergy consummates certain pending transactions.<br><br>US BioEnergy is an ethanol production and marketing firm which currently has two ethanol plants under construction in Albert City, Iowa and Lake Odessa, Michigan.  US BioEnergy has also announced plans to build ethanol plants near Hankinson, ND and Janesville, MN.<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	CHS Inc.
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  <I>
  	April 4, 2006
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  	By:
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  <I>
  	/s/ John Schmitz
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  	&nbsp;
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  <I>
  	Name: John Schmitz
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  <I>
  	Title: Executive Vice President and Chief Financial Officer
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_11452.htm", "description": "LIVE FILING", "secsgml_size_bytes": 9055}]
metadata_filer: {"company-data": {"conformed-name": "CHS INC", "cik": "0000823277", "assigned-sic": "5150", "irs-number": "410251095", "state-of-incorporation": "MN", "fiscal-year-end": "0831"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50150", "film-number": "06736716"}, "business-address": {"street1": "5500 CENEX DRIVE", "city": "INVER GROVE HEIGHTS", "state": "MN", "zip": "55077", "phone": "651-355-6000"}, "mail-address": {"street1": "5500 CENEX DRIVE", "city": "INVER GROVE HEIGHTS", "state": "MN", "zip": "55077"}, "former-company": [{"former-conformed-name": "CENEX HARVEST STATES COOPERATIVES", "date-changed": "19980611"}, {"former-conformed-name": "HARVEST STATES COOPERATIVES", "date-changed": "19961212"}]}
text: CHS Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  March 31, 2006
  CHS Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Minnesota
  0-50150
  41-0251095
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  5500 Cenex Drive, Inver Grove Heights, Minnesota
  55077
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  651-355-6000
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  On March 31, 2006, CHS Inc. acquired an additional 17,500,000 shares of Class A Common Stock of US BioEnergy Corporation (US BioEnergy) at a purchase price of $2.00 per share for a total purchase price of $35,000,000.  This investment increased CHS' holdings of US BioEnergy to 52,500,000 shares of Class A Common Stock with a total investment of $70,000,000.  CHS' holdings represent approximately 30% of the outstanding shares of US BioEnergy, however, the Company's percentage ownership could be reduced to approximately 23% if US BioEnergy consummates certain pending transactions.
  US BioEnergy is an ethanol production and marketing firm which currently has two ethanol plants under construction in Albert City, Iowa and Lake Odessa, Michigan.  US BioEnergy has also announced plans to build ethanol plants near Hankinson, ND and Janesville, MN.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  CHS Inc.
  April 4, 2006
  By:
  /s/ John Schmitz
  Name: John Schmitz
  Title: Executive Vice President and Chief Financial Officer