February 25, 2021

Archives for November 2020

Fueling Solutions in an Era of Uncertainty

As 2020 comes to a close, it seems there are two big questions on everyone’s mind. When will we transition into a post-COVID-19 world? What will things look like then?

“We can’t just wave a magic wand and bring things back to the way they were,” said Chad Besch, energy team leader at MaxYield Cooperative. “While there are a lot of unknowns at this point, we

can assess some factors that could impact the energy industry and the energy solutions we provide.”

In time, when energy demand gets back to pre-COVID levels, fuel prices will likely return to pre-COVID levels, too. “A common theme we hear, however, is that supply is slow to respond to the dramatic drop in demand from the COVID-19 shutdowns,” Besch said.

The coronavirus pandemic caused an unprecedented drop in U.S. traffic. Total miles driven dropped by more than 40 percent in the last two weeks of March 2020, according to data collected by Arity, a data company that tracks transportation trends. In some states, mileage eventually dropped more than 60 percent below what would be expected without a pandemic.

“Even as fuel demand comes back, fuel production could lag,” Besch said. “That means fuel prices could rise faster than expected.”

KEEP YOUR FUEL TANKS FULL

The reason fuel production could lag is because refiners have no incentive to overproduce in a time of uncertainty.

“Refiners are saying ‘prove it to me,’” Besch said. “They won’t make a move until fuel demand comes back and stays back. Also, it’s unclear what kind of investments will be made in the energy industry going forward.”

While there’s always a chance that fuel could become less expensive in the months ahead, there are no guarantees. “I advise you to purchase fuel ahead of time and keep your fuel tanks full,” Besch said. “The carry in the diesel market, for example, tells us it’s likely prices will go up.”

MaxYield’s energy team will continue to monitor the energy markets to provide the solutions you need, when you need them. Contact your local MaxYield energy specialist for more details. We appreciate your business.

Facility Investments Pay Off at MaxYield

If you delivered grain this fall in MaxYield Cooperative’s east region, you probably noticed some big changes. We built one new 750,000-bushel grain bin at Belmond and one 750,000-bushel grain bin in Britt.

Britt

Belmond

Belmond’s bin upgrade has worked well, according to Frank Uhde, MaxYield’s east area leader. “The Belmond team received almost 600,000 bushel of soybeans at our Belmond west location. This was the first time we have used the west elevator for soybeans. Having beans on this side will allow us the ability to load a soybean train.”

Uhde was also very complimentary of the new 750,000-bushel grain bin and other facility improvements at Britt. “The new bin in Britt helped significantly decrease the amount of grain transfers during harvest and it also improved how fast we could take grain. The new PLC control system and improvements at the Britt scale have been great upgrades and has helped with both receiving and loading out grain.”

The biggest project included our $4.5 million investment at Klemme. The project included 750,000-bushel bin, a 4,000-bushel-per-hour grain dryer, wet-corn holding capacity, overhead truck load-out capability and all the infrastructure needed to complete the project.

Klemme

“Harvest hit us before Klemme’s upgrades were fully operational,” said Uhde. “We are grateful for our members and clients support this fall as we worked through a couple early challenges. Klemme has some more work to finish before being complete, but we will get it completed soon. With what we have seen this far, Klemme’s grain receiving will be a force to reckon with.

Klemme received over 151,000 bushels one of the days’ during harvest. This is almost double their best grain receiving day in the past.”

“We made these investments to handle your grain a lot faster and help you get back to the field quickly during harvest,” said Ben Buie, grain team leader at MaxYield. These much-needed improvements will benefit area farmers for generations to come.”

If you don’t farm in the east region, don’t think MaxYield has overlooked you. MaxYield’s directors and leadership teams understand the importance of continually improving facilities and equipment throughout the company.

“We’re certainly not done investing in the cooperative’s assets,” Buie said. “We plan to keep expanding and improving our facilities throughout the company to serve you more efficiently.”

Annual Meeting – UPDATE

Last week all Class A (voting) members of MaxYield Cooperative were sent their NOTICE OF ANNUAL MEETING. As noted in the mailing, the in-person portion of the Annual Meeting will not be held and the financial report and director election will be conducted by mail.

For your reference, below is the letter that was sent to voting members. Please mail all ballots in the return envelope marked “BALLOT” to MaxYield’s corporate office.  We must receive your ballot by the close of business on December 8, 2020.

 

NOTICE OF ANNUAL MEETING

Dear MaxYield Cooperative Member:

Due to the COVID-19 pandemic, the in-person portion of MaxYield Cooperative’s Annual Meeting will not be held. Your cooperative’s July 31, 2020 financial report and the director election will be conducted by mail.

The following is included in this Notice of Annual Meeting packet:

  • Financial Statements. A condensed financial statement on the fiscal year of operation for MaxYield Cooperative, which concluded July 31, 2020, is enclosed. Detailed printed or electronic financial reports are available at any MaxYield location or by contacting Bridgett Southard or Doug Miller at our corporate office at 515-200-5115.
  • Official Board of Directors ballot. Also included are board candidate profiles and the ballot return envelope.
  • Minutes of last year’s annual meeting, included for your review and approval.

The stockholders are requested to:

  • Fill certain positions on the cooperative’s Board of Directors
  • Approve the minutes of last year’s board meeting

Enclosed is the official Ballot for purpose of the above. With respect to the positions on the Board of Directors, please mark one candidate for each of the open positions. To approve last year’s annual meeting minutes, please mark “YES.” Your ballot can be returned in the enclosed postage paid envelope.

Counting of the ballots will take place on Wednesday, December 9, 2020. A member of the nominating committee and/or a Class A (voting) member of MaxYield Cooperative will count the ballots. We must receive your ballot by the close of business on December 8, 2020.

Do not hesitate to contact your board of directors or nearest location with any questions regarding the annual meeting or the financial report of MaxYield Cooperative. Results from the director election will be posted to www.maxyieldcoop.com and www.fromthefield.com.

We appreciate your support of MaxYield Cooperative!

Cooperatively yours;

Howard Haas                                                                 Keith Heim
Board Chairman                                                            CEO

Interested in Purchasing Condo Storage Units?

From time-to-time we have clients that are interested in purchasing condo storage units at MaxYield Cooperative. If you are interested in purchasing condo storage units, we can place your interest on a list for potential sellers to review.

For more information, please contact Rick Abrahamson at 515-200-5115 or rabrahamson@maxyieldcoop.com. Thank you!

Kerry Hiscocks Retires from MaxYield Cooperative

Kerry Hiscocks, operations team member at MaxYield Cooperative’s Klemme location, recently retired from the cooperative. Pat White (left), Klemme location leader and Frank Uhde (right), east area leader present Hiscocks with a stainless steel cooler as a gift of appreciation for his years of service.

KLEMME, IA – Kerry Hiscocks, operations team member at MaxYield’s Klemme location, was recognized with a retirement coffee honoring his 15 years of service to the local cooperative recently. His last day with MaxYield was October 30, 2020.

After many years of working in the agriculture industry, Hiscocks began his career with MaxYield in 2005 after the acquisition of the Klemme location. He served in multiple roles during his time with MaxYield, most recently working in operations at Klemme.

Hiscocks is ready for the next stage of his life. “It has been a good ride. I appreciate all the people I have worked with and the opportunities that this company has provided for me and my family. I look forward to the next chapter and wish MaxYield much success in the future,” he said.

MaxYield wishes Hiscocks all the best during his retirement!

About MaxYield Cooperative

MaxYield Cooperative is a member-owned, diversified agricultural cooperative founded in 1915 and is headquartered in West Bend, IA. The cooperative has 25 locations and three Cenex convenience stores in Iowa. MaxYield also provides grain origination and accounting services for three Iowa feed mills. For more information, visit MaxYield online at www.MaxYieldCoop.com and www.FromTheField.com.