August 10, 2020

Archives for November 2012

MaxYield’s Profitable “Three-Peat”

Bob BurkardtOur current level of savings and distributions could not be possible without the support of our loyal members and clients.” — Bob Burkhardt, MaxYield’s chief financial officer

Good things come in threes at MaxYield Cooperative, where our fiscal year ending July 31 marked the third highest annual earnings in the company’s history.

“MaxYield’s balance sheet is strong, and it continues to get stronger every year,” said Keith Heim, MaxYield’s CEO. “In today’s business environment, this is crucial.”

MaxYield’s savings generated from operations for the fiscal year totaled $4.1 million, up from $3.9 million for the prior fiscal year. Adding patronage and dividend income created total savings of $8.4 million for fiscal year 2012, compared to $6.2 million for the prior year.

Continued growth in MaxYield’s business units lead to record sales for the company, Heim said. Agronomy revenues and corn volumes were strong, while refined fuels showed increases compared to the previous year.

Solid, consistent earnings allow MaxYield to continue investing in the infrastructure required to support its clients. “Some of the facilities we have today weren’t built to handle 200-bushel-per-acre corn and 60-bushel soybeans,” Heim said. “We need to continue investing in our facilities and equipment to stay current, and it takes profit and working capital to do that.”

Giving back to MaxYield’s members

MaxYield’s strong earnings in fiscal year 2012 also allowed the company to add $3.5 million to retained savings while distributing $3.3 million in cash and equity to members.

“Again this year, 20% of the patronage distribution will be paid in cash with 80% added to member equity,” said Bob Burkhardt, MaxYield’s chief financial officer.

MaxYield’s patronage rates this year are 4.3¢ per bushel on grain, 4.04¢ per gallon on all fuels, and 3.36% of the dollar value of all other goods or services. This compares to the prior year’s rates of 2.85¢, 2.39¢, and 2.05%, respectively.

In addition to the cash and equity distribution, MaxYield is passing through $1.6 million in tax deductions to members from the company’s available Domestic Production Activities Deduction (also called the Section 199 tax deduction). “While the market and the economy have allowed us to have a series of good years, our current level of savings and distributions could not be possible without the support of our loyal members and clients,” Burkhardt noted.

No two years are the same

Every fiscal year is unique and presents its own opportunities and challenges, Burkhardt added. For the fiscal year ending July 31, 2011, MaxYield made the most of its money during the last three months of the fiscal year—the exact opposite of what happened in fiscal year 2012.

“We started off strong in the fall and winter months of fiscal year 2012, while the last several months of the fiscal year tapered off. The market run-up caused by the summer 2012 drought took the cream off the top. Higher interest costs resulting from the large amount of money we had to put up to fund hedge margins were key factors.”

The pattern of grain movement can also shift dramatically from one fiscal year to the next, added Burkhardt, who noted that the timing of cash flows impacts how soon MaxYield can pay down its interest bill. “In the last fiscal year, grain volumes moved a lot earlier than they have in previous years. We moved more grain in the first six months of fiscal year 2012 than in the last six months.”

Financial stability equals strength

While MaxYield can’t control all these factors, it can control how it focuses on growing the business, such as investing in “people-first” practices that help team members enhance their skills to serve clients more effectively.

“This is helping us progress as a financially stable company that can continue to upgrade our facilities and equipment to provide the service that our clients require,” said Heim, who is cautiously optimistic about fiscal year 2013. “Moving forward, we will remain focused on generating earnings consistently.”

 

Annie’s Project – Risk Management for Farm Women – starts January 17, 2013

MaxYield Cooperative is a proud sponsor of this event…

Are you a farm woman with a passion for business and involvement? Do you want to learn how to manage risk in your operation? Iowa State University Extension and Outreach in Kossuth County is pleased to offer Annie’s Project, a course designed to empower women to be better business partners and owners.

Farm women will learn how to build networks, manage and organize critical information. During this six session course, you will develop management and decision making skills for your farms. Sessions include brief presentations and extended discussions with women agriculture professionals, topics of importance to your future in agribusiness plus finding the resources available to help you achieve success.

Annie’s Project meets from 6-9 p.m. at the Kossuth County Extension, Algona, Iowa. Monday Evenings January 17, 24, 31 February 7, 21, and 28.

The cost is $75 per person. Participants receive software programs, handouts and an Annie’s Project portfolio. Course size is limited to 25 people.

Pre-registration is due by January 3rd, 2013. Annie’s Project is partially funded by a grant from the USDA Risk Management Agency.

 For more information or to register for the program, call the Kossuth County Extension Office at 515-295-2469 or email Carrie Gatton at cgatton@iastate.edu.

 

 

 

Greg Sweeney Named Seed Team Leader at MaxYield

Greg SweeneyGreg Sweeney has been named to the newly created position of Seed Team Leader for MaxYield Seed.  The appointment was announced recently by Larry Arndt, Agronomy Team and Sales Team Leader for MaxYield Cooperative.

Sweeney will be responsible for developing business plans, providing education and training to MaxYield Seed and Agronomy Specialists plus meeting and exceeding sales growth goals in seed for the company.  In his new appointment, he will oversee the seed division across MaxYield’s territory.

Arndt said, “We are excited to have Greg step up into this new position. He will spend each day finding ways to elevate our seed and agronomy business and help us achieve our goals of increased seed market share.”

Sweeney, who has been at MaxYield for ten years, previously served the cooperative as Seed Solutions Specialist in its eastern territory. Prior to that, he was an Agronomy Specialist in the Emmetsburg area.

He is a 2002 graduate of Iowa State University, earning his degree in Agronomy.

Sweeney lives near Kanawha, IA with his wife Heather and two sons, Owen, age six and Caleb, age three.

MaxYield Cooperative is a local agriculture based cooperative with 18 locations in Iowa and one in Riga, Michigan. More information about the cooperative can be found at www.MaxYieldCooperative.com, www.MaxYieldSeed.com or www.FromTheField.com.

Meet the candidates: Dave Schwaller

MaxYield Cooperative’s annual meeting is coming soon, slated for November 28th at 10:30 p.m. The meeting will take place at the Knights of Columbus Hall in Algona, IA.

Members will soon receive in the mail the official annual meeting packet, including the ballot to determine director elections.

We invite you to learn more about the candidates seeking election to the MaxYield board of directors. Today, we introduce you to Dave Schwaller:

 

Dave SchwallerDave and his wife Karen live and farm northeast of Fostoria. Their family farm consists of row crop corn, soybeans plus alfalfa. They also help maintain a cow-calf herd that belongs to their sons Dustin and Doug along with a flock of ewes and finish lambs. Their daughter Emily is a TSM trainee for Monsanto in Brookings, SD.

He has grown livestock since 1978 when he was a junior in high school and has grown crops since 1994. Before farming full-time, he worked at Stylecraft in Milford, working in maintenance for six years there. He is a graduate of Milford High School.

Schwaller is running for the MaxYield board of directors because he likes the way the cooperative conducts business and wants to see that level of client service continue. He wants MaxYield to continue to find ways to add value to clients and members’ operations.

He has appreciated the investments in MaxYield’s locations the last few years and wants the cooperative to continue to maximize its opportunities. Schwaller says he appreciates the level of service he gets from MaxYield and feels they have a great employee group.

Schwaller says he has seen what happens when a cooperative presence leaves an area, and believes strongly that cooperatives help keep the ag industry honest with competition. He feels that it is important for farmers and members in particular to have a voice and control in the ag industry.

He feels that MaxYield is significantly in front of many businesses in the adaption of technology. He utilizes SciMax Solutions and has been very happy with the improvement of technology in his operation.

He feels there may be difficult times ahead in agriculture and it will take strong leadership to keep the organization moving in the right direction. He wants to help provide that leadership to continue to bring good service and benefits for both the farmer and cooperative.

Schwaller says he has always wanted the opportunity to help lead the cooperative and looks forward to the chance to help MaxYield.

He and his wife have been 4-H leaders the last 11 years. He is member of the sheep and goat committee at the Dickinson County Fair. He also has served on the cemetery board for St. Joseph’s Catholic Church in Milford.

Schwaller has a passion for farming. In his free time he enjoys tinkering and fixing things in his shop. He also enjoys watching high school wrestling.

Dave Schwaller is a candidate seeking election to the MaxYield Cooperative board of directors for the West Region (west of Hwy 4).  He is running against Barry Anderson.

 

Meet the candidates: Barry Anderson

MaxYield Cooperative’s annual meeting is coming soon, slated for November 28th at 10:30 p.m. The meeting will take place at the Knights of Columbus Hall in Algona, IA.

Members will soon receive in the mail the official annual meeting packet, including the ballot to determine director elections.

We invite you to learn more about the candidates seeking election to the MaxYield board of directors. Today, we introduce you to Barry Anderson:

 

Barry AndersonBarry Anderson and his wife Dana have lived and farmed northwest of Gillette Grove since 1996. They have three children, daughters Megan, Taylor and son Christopher. Their farming operation consists of row crop corn and soybean production plus a feeder-to-finish swine operation and they also maintain a 30-head cow-calf herd. Anderson is a graduate of South Clay High School.

He double majored in agri-business and history at Buena Vista University in Storm Lake. Before returning to the farm, he worked in Tennessee for Norwest Financial and later at Associates Financial as a loan officer.

Anderson is seeking election to the MaxYield board of directors because he has always had an interest in serving and finds the challenge of helping lead the cooperative intriguing. His father Wendell served the Dickens cooperative as a board member for many years and he wants to see MaxYield continue to be successful.

He says he does most of his business at MaxYield and has watched the company grow the last few years and wants to see the success of the company continue.

Anderson feels that it is important to have a cooperative presence in agri-business. Cooperative’s help provide diversity, spread risk and build a partnership between ag industry and farmers. He feels that farmers having a voice in how local ag business is conducted are still important.

The ag industry has changed rapidly in the last 15 years in all areas of crop production. Anderson leans heavily on MaxYield’s agronomy team and has seen firsthand the value of the services they provide. He also recognizes that acquiring and keeping young, talented employees is important.

He appreciates MaxYield’s investment in its facilities and if elected, he will take a look at the big picture of the cooperative and help weigh choices how to further invest in the company as a whole. Anderson also feels the cooperative should continue to provide services that attract new clients and help retain current ones. Safety should also continue to be a focus at MaxYield.

Anderson greatly looks forward to the challenge of serving the membership of MaxYield Cooperative. He enjoys serving on boards and providing leadership. He feels he has learned a great deal from serving the Farm Bureau and Pork Producers.

Anderson has served Farm Bureau for about 15 years at the county level and has served on state committees for the organization. He also served on the South Clay school board for 13 years. He is a past Clay County Pork Producers president, coached numerous youth sports teams and served on the First Christian Church board in Spencer for 12 years. This summer, Anderson and his family helped conduct Vacation Bible School at their church.

He is big sports fan and enjoys spending time with family and attending kids’ activities. He and his family also enjoy traveling to Tennessee to visit family.

Barry Anderson is a candidate seeking election to the MaxYield Cooperative board of directors for the West Region (west of Hwy 4). He is running against candidate Dave Schwaller.

Meet the candidates: Ron Rouse

MaxYield Cooperative’s annual meeting is coming soon, slated for November 28th at 10:30 p.m. The meeting will take place at the Knights of Columbus Hall in Algona, IA.

 Members will soon receive in the mail the official annual meeting packet, including the ballot to determine director elections.

 We invite you to learn more about the candidates seeking election to the MaxYield board of directors. Today, we introduce you to Ron Rouse:

Ron RouseRon and his wife Sue live and farm in the Curlew/Ayrshire area. They have three children. Their oldest daughter Rachel lives in Treynor with her husband, Nigel. Their son Jake, lives in Indianola with his wife, Chelsea, and their youngest daughter Chelsey, will be a sophomore at Iowa State University this fall.

Ron is a graduate of Texas Christian University in Fort Worth, Texas, completing the Ranch Management Program before returning home to farm in 1981. His farming operation consists of corn and soybean row crop along with a beef cattle feed yard and a cow-calf herd.

Ron is seeking reelection to the MaxYield Cooperative Board of Directors because he feels that it is a good learning experience and has provided networking opportunities for him. He believes it is a duty everyone should do, to serve on a board where big decisions are made. He says that with changes in ag, it is an exciting opportunity to provide strong leadership for the cooperative.

As a director, Ron hopes to continue to guide MaxYield towards remaining competitive locally in grain and helping to find the co-op’s fit with more competition for grain bushels. He believes a co-op needs good employees to be successful and competitive. MaxYield is very service oriented and by continuing to serve on the board, he would like to continue this.

He also likes the challenge of finding methods for MaxYield to become more efficient and to seek areas of improvement. Ron would like to see the emphasis of improved client relationships continue. Ron also believes MaxYield has very competent personnel and excellent leadership.

Moving forward he thinks that MaxYield should focus on continued improvement to the bottom line and to the company’s financial position. Ron believes the company is financially stable, which allows them to work well with farmers, and gain their trust.

Ron looks forward to the opportunity to serve on the MaxYield Cooperative Board of Directors. He enjoys working with the directors and enjoys the challenge of leading MaxYield. Ron also says, the board all works well together, and each member is concerned about MaxYield long-term.

He is a member of the Iowa Corn and Soybean Association and the National Cattleman’s Beef Association. Ron is also a member and past Board President of the Palo Alto County Cattleman. In his free time, he enjoys spending time with family and friends.

Ron Rouse is a MaxYield Board of Director Candidate for the West Region, representing the membership west of Hwy 4. He is running unopposed.

 

Holiday Trading Schedule

Thanksgiving Schedule:

Wednesday, November 21st – Regular close, no night trade

Thursday, November 22nd – No trade day or night

Friday, November 23rd – Open at 9:30 am, close at 12 pm for CBOT/KBOT, no night trade

12:15 pm for MGEX

12:30 pm for CBOT Minis

Sunday, November 25th – Regular night trade open at 5 pm

 

 

Christmas Schedule:

Monday, December 24th – Close at 12 pm for CBOT/KBOT, no night trade

12:15 pm for MGEX

12:30 pm for CBOT Minis

Tuesday, December 25th – No trade day or night

Wednesday, December 26th – Open at 9:30 am

 

 

New Year’s Schedule:

Monday, December 31st – Regular close, no night trade

Tuesday, January 1st – No trade day or night

Wednesday, January 2nd – Open at 9:30 am

 

Meet the candidates: Howard Haas

MaxYield Cooperative’s annual meeting is coming soon, slated for November 28th at 10:30 p.m. The meeting will take place at the Knights of Columbus Hall in Algona, IA.

Members will soon receive in the  mail the official annual meeting packet, including the ballot to determine director elections.

We invite you to learn more about the candidates seeking election to the MaxYield board of directors. Today, we introduce you to Howard Haas:

Howard Haas

Howard Haas, Algona, is seeking reelection to the MaxYield Cooperative board.

Howard and his wife Sue live in Algona and have three grown children. A 1978 graduate of Algona High School, he has farmed for 30 years west of Algona. His farming operation consists of a corn and soybean row crop rotation. He also grows seed corn for Pioneer in Algona.

He is seeking reelection to the MaxYield Cooperative Board of Directors because he enjoys serving the cooperative, meeting new people and the working with agricultural industry leaders. He also enjoys the challenge of being Board President and looks forward to the opportunity to continue the direction of the company forward if reelected.

Howard feels one of MaxYield’s biggest challenges moving forward will be serving the diversity of producers within the co-op’s territory. Producer needs vary across the territory, he says, and what’s important for service in one area, may be different in another.

Howard feels that MaxYield Cooperative should continue to explore both internal and external growth opportunities in both traditional and non-traditional areas.

Another challenge that Howard looks forward to leading the cooperative through includes focusing on consistent earnings, as it takes steady, solid earnings to provide good equipment, and knowledgeable employees.  Consistent earnings will also help MaxYield reach its equity revolvement goals.

In addition to enjoying the challenge of leading MaxYield, Howard says he cares about member and client interests in the cooperative and always responds to questions and concerns.

Howard is a member of the Trinity Lutheran Church in Algona. He has been on the MaxYield Cooperative Board of Directors for 15 years, serving as Secretary for five years, Board Vice President for two years and serving as Board President for the last seven years.  Howard enjoys spending his free time with his family.

 

Howard is a MaxYield Board of Director Candidate for the Central Region, representing the membership between Hwy 17 and Hwy 4. He is running unopposed.

 

WinField Offers $1,000 Scholarships to Students Pursuing Agriculture Related Degrees

For Immediate Release

WinField Offers $1,000 Scholarships to Students Pursuing Agriculture Related Degrees

Applications are available on the internet at WinField.com

Nov. 1, 2012 (Shoreview, Minn.) – WinField is keeping the tradition of the Careers in Agriculture Scholarship Program, by announcing the kick-off for this year’s offering, today. Scholarships worth $1,000 will be awarded to 10 high school seniors and 10 college students in their first or second year who demonstrate scholastic achievement, leadership in agriculture and a perceived ability to contribute to agriculture in the future.

The Careers in Agriculture Scholarship Program is available to high school graduating seniors and first or second year college students pursuing two- or four-year degrees in agronomy, crop production, or closely related fields.

To qualify for the program, a student must:

  • Be a high school senior, graduating in spring of 2013; or
  • Be a college freshman or sophomore;
  • Demonstrate leadership abilities and academic performance;
  • Complete an application including two reference letters; and
  • Write essays describing the importance of farmer cooperatives, and why he or she is interested in an agricultural career.

Since its formation 23 years ago, the Careers in Agriculture Scholarship Program have awarded more than half million dollars to young adults who share the same commitment to agronomy, excellence and the cooperative system.

Applications are available on the internet at WinField.com (or via the link above). All applications must be postmarked by Feb. 1, 2013.

Winners will be notified by mail in April 2013.

WinField has the technical know-how, proprietary tools and research-based solutions farmers can trust for success today, tomorrow and beyond. Look to WinField for the expertise you need to win in the field and in the marketplace. For more information about WinField™ crop protection products and CROPLAN® seed, please see www.winfield.com.

Update: MaxYield’s Garner Lumber & Supply

An update from MaxYield Cooperative’s CEO, Keith Heim:

On Wednesday, September 26th, MaxYield Lumber & Supply’s south warehouse was lost due to fire. A fire in a neighboring garage appears to be the cause of the blaze. The contents of the lumber yard’s warehouse were a total loss, but thankfully there were no injuries resulting from the fire.

Since September 27th, the State Fire Marshall’s report has been completed and the insurance settlement with our insurance carrier will be finalized very soon.

In late October, the MaxYield Cooperative Board of Directors and I discussed the Garner lumber operation and the options to consider moving forward. The Board has asked me to work with the City of Garner to explore transitioning the ownership of the lumber business from MaxYield to another investor or group of investors.

There have already been meetings with Garner City officials to discuss this lumber business objective. Both MaxYield and the City of Garner will attempt to complete this lumber business transition by the start of the 2013 construction season- approximately April 1, 2013.

We will keep our team members, membership, and clients apprised of the outcome of our lumber business objective.