September 15, 2019

MaxYield Cooperative Announces Positive Fiscal 2019 Results

WEST BEND, IA, – MaxYield Cooperative® recently announced its fiscal results, for the year ending July 31, 2019. The board of directors for MaxYield reviewed and approved the financial audit at their board meeting, held August 22.

MaxYield CEO Keith Heim stated that the cooperative had positive local and total savings to report. “The recently completed fiscal year had reduced corn and soybean bushels in the fall of 2018, compared to recent years and reduced grain drying revenue. That said, the reduced bushels and drying revenue were more than offset by strong margins in most all product areas and disciplined expense control across the cooperative.”

In addition to recent upgrades in Algona and Greenville, MaxYield recently announced the board of director’s approval to build new grain storage in Belmond and Britt in 2020, with each of the bins totaling 725,000 bushels. Heim went on to say that MaxYield’s board of directors continues to place strong emphasis on upgrading and improving facilities, equipment and rolling stock.

MaxYield Cooperative’s Local Savings from Operations for the 2018-2019 fiscal year were $1,790,071 and pre-tax Total Savings for the cooperative totaled $7.4 million.

Heim said that the cooperative’s balance sheet remains very strong. “We continue to build our already solid balance sheet. Term debt was reduced by over $4.8 million, member’s equity increased and we added $2.5 million to working capital in 2019, which is up by over $5.5 million over the past two fiscal years. MaxYield also increased retained savings, which now totals nearly $59 million. In 1997, retained savings at MaxYield were ($122,242), so you can see we continue to make significant progress in strengthening the financial position of MaxYield. Retained savings is a good benchmark putting into perspective the financial improvements here over the past 22 years,” he added.

The cooperative’s annual meeting is December 12, 2019 at 10:00 a.m. at the Kossuth County Ag & Motorsports Museum, located in Algona, IA.

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.

 

 

 

Temporary Grain Storage Added to Whittemore

MaxYield’s Whittemore grain receiving location constructed additional grain storage capacity in the form of this bunker that was installed recently west of the office.

The bunker, which was formerly installed at MaxYield’s Garner location and was not being used, will hold an estimated 325,000 bushels of corn this fall.

Most recent harvests at Whittemore have seen that location pile grain on the ground to accommodate the grain delivery needs of area members and clients. The Whittemore location has also seen an increase in corn demand usage due to our partnership with a local feed mill.

With the installation of this bunker, MaxYield will be able to hold more bushels this fall during harvest and while also ensure better grain quality when the grain is brought back under roof.

MaxYield Board of Directors approve grain storage expansion in Britt, Belmond

MaxYield’s board of directors recently approved the construction of two grain storage bins, one in Britt and one in Belmond. The new bins will each hold 725,000 bushels of grain, similar to the bins shown in this photo.

The MaxYield Cooperative board of directors has approved the construction of additional grain storage at two MaxYield locations. The grain bins, which are set to be completed during the cooperative’s fiscal year 2020, will each be 105’ in diameter and will each hold 725,000 bushels of grain. One of the new grain bins will be constructed at MaxYield’s location in Britt and one will be constructed at the cooperative’s location in Belmond.

Site preparation for the expansion at each location is expected to be completed this fall, with an expected project completion in time for harvest in the fall of 2020. Keith Heim, CEO, is excited about the approved expansion. “I am pleased to announce that the MaxYield Board of Directors approved moving forward with the addition of two grain bin storage projects. Our strong balance sheet, arguably the best in our history, allows us to continue our commitment to upgrading our facilities and equipment at MaxYield Cooperative.”

These projects are in the early stages of development at this time. More details will be shared as they become available by the cooperative.

 

MaxYield Cooperative is a local, diversified farmer-owned cooperative serving members and clients in Iowa, and southern Minnesota. Founded in 1915, MaxYield Cooperative is headquartered in West Bend, Iowa. More information about the cooperative can be found online at www.MaxYieldCoop.com and www.FromTheField.com.

Paving His Own Way: Alex Londerville’s Story

If you’d asked Alex Londerville, our newest grain origination trainee, four years ago what he’d be doing after college, the agriculture industry would not have been a topic of conversation. Originally from Swisher, Iowa, Alex spent two years at the University of Iowa’s business college before transferring into ag business at Iowa State University. “I knew I had a love for business and that’s what took me to [the University of] Iowa first. I realized through helping some of my buddies out on their farms that I really had a passion for agriculture, so I decided to combine the two and transferred to Iowa State for an ag business degree.”

Iowa State was also what brought him to MaxYield Cooperative. “I found the [grain origination trainee] position on CyHire (Iowa State’s job board). I was looking for full time openings in grain origination or merchandising, and this was one of the positions I applied for. I really enjoyed meeting everyone [from MaxYield], and [the way I was treated] in the interview was what really sealed the deal.”

A common theme among interns and new hires is their love for MaxYield’s clients and getting the chance to work with them. Alex is no different. “The best part of this position is dealing with clients on a daily basis- whether it’s over the phone or if they stop at the location, or if I go out in the country by myself for the day, it’s nice to just talk to them and get to know them. That’s what I like most about it.”


Mick Hoover, risk management team leader, serves as Alex’s mentor. Mick’s mentorship is something Alex considers an asset when beginning his career at MaxYield. “I’ve benefitted from having Mick as a mentor just by seeing his love and his passion for grain origination. By talking to him I know how much he loves those things, even if he doesn’t do it on a daily basis anymore. Just seeing his drive gives me drive, too, and a desire to be successful at it.”

‘Fantastic’ rolled off the tongue as a way to encompass his experience at MaxYield so far. “I really like what I do. I’ve only been doing it for a couple of months now but I really enjoy the company and my job, and I’m excited about the future… Once I [build my] skills in grain origination and grow my relationship with clients, I look forward to growing within MaxYield; taking on more responsibilities, becoming more of an asset to the company and to our clients, and to being successful.”

The team members at MaxYield want to see Alex become successful, too, by sharing their knowledge and support, which is one reason he would recommend working at the cooperative to anyone with an interest. “Without a doubt go for it… The wealth of knowledge and the guidance that you get working here is second to none. Just go in with open arms, open eyes, and open ears and embrace it.”

Standard Nutrition & MaxYield Announce Joint Venture

MaxYield is excited to announce that we have formed a joint venture with Standard Nutrition at their feed mill in Waverly, IA, which is the former Schneider Milling location. The following letter was sent recently to clients of the Waverly feed mill. More details will be forthcoming in the near future. Do not hesitate to contact Ben Buie or Mick Hoover at MaxYield at 515-200-5115 with questions.

Standard Nutrition at Waverly, IA and MaxYield Cooperative Announce
Grain Purchasing Joint Venture

August 1, 2019

Dear Valued Standard Nutrition Grain Client:

We are excited to announce that MaxYield Cooperative and Standard Nutrition have entered into a grain purchasing and risk management joint venture. Effective August 1, 2019, MaxYield Cooperative will be handling the grain purchasing, grain accounting and risk management at Standard Nutrition’s feed mill, the former Schneider Milling location east of Waverly, IA (3601 E. Bremer Ave).

Since 1995, MaxYield has provided grain procurement and risk management services to feed mills and grain end-users in the Midwest, including Kerber Milling/Standard Nutrition in Emmetsburg, IA and the Hawkeye Pride poultry feed mill near Corwith, IA.

Headquartered in West Bend, Iowa, MaxYield Cooperative is a local farmer-owned, diversified cooperative founded in 1915. We have 24 locations and 3 Cenex convenience stores that serve members and clients in Iowa and southern Minnesota. We invite you to learn more about our cooperative at www.MaxYieldCoop.com and www.FromTheField.com. Cash grain bids for the Waverly feed mill are posted to www.maxyieldgrain.com/corn-bids.

We look forward to providing your grain marketing solutions in Waverly, including cash grain marketing options, firm offer programs, off-farm trucking solutions and innovative grain contracts and risk management strategies.

It is also important to note that ALL existing grain contracts and financial terms at Standard Nutrition in Waverly will be honored by MaxYield Cooperative after August 1.

Thank you for your past grain business with the Waverly feed mill. We are excited to get to know you and provide solutions that benefit your farming operation.

More information about this transition and the solutions we offer will be provided soon. In the meantime, do not hesitate to contact Ben Buie, grain team leader at 515-200-5115, bbuie@maxyieldgrain.com or Mick Hoover, risk management team leader at 515-200-5115, mhoover@maxyieldgrain.com for more information about MaxYield, our bids, grain contracts and risk management programs.

Sincerely,

Ben Buie
Grain Team Leader

New Scale Installation at Algona

MaxYield’s grain receiving location in Algona is in the midst of a scale improvement project. As shown in the first photo, the concrete and scale platform from the old east grain receiving area was removed last week.

With the old scale platform removed, workers readied the area for new concrete and placement of the new scale platform.

MaxYield annually invests in upgrading facilities, equipment and rolling stock. The total cost of this project is expected to be $120,000.

The MaxYield Algona location will not be taking grain deliveries during the scale installation, estimated to last until June 3rd.

We appreciate your understanding and cooperation! Be sure to call the Algona office at 515-295-2741 for more details and updates on grain receiving.

 

 

Improvements Underway at Greeville Grain Facility

A transformation is taking place at our Greenville grain facility. MaxYield’s millwright and maintenance teams are hard at work improving the grain reclaim and load out equipment at the site.

Though there is a lot of ‘stuff laying around’ the Greenville facility now, when the project is completed, it will have a very positive effect on operations at that location.

Shown in the photos are new bottom conveyors that take the grain to the load out area. Also shown is maintenance team leader Frank Schmidt working in the site’s control room.

Once all of the renovations and upgrades are complete, grain flow and grain load out will be significantly improved. In addition, once renovations are completed, all load out operations can be performed from the Greenville office. This will make operation of the site much more efficient.

Estimated project cost for the facility improvements is $90K.

 

 

 

 

 

 

No Grain Deliveries to MaxYield Algona May 20-June 3

++UPDATE…Construction will take a couple more days and we will not be taking grain at least until June 6th.

MaxYield Cooperative in Algona will not be taking grain deliveries May 20th through June 6th due to elevator scale renovations and cannot take grain during this time.

They expect to resume normal grain deliveries soon.

Please call 295-2741 for more details. We apologize for any inconvenience this may cause and appreciate your understanding as we improve grain receiving at Algona.

MaxYield Participates in GTRA STEM Festival

We had fun interacting with students at the STEM Festival held recently at the Graettinger Terrill Community School District.

Kristen Ruppert and Jeannie Lawrence provided our display that featured hands on sensory activities of grinding corn into corn meal from early Native Americans to modern times.

Demonstrating the many uses of corn today was a big hit with the students!

 

 

 

MaxYield Supports NC Iowa Ag in the Classroom

MaxYield Cooperative recently presented a $500 check to North Central Iowa Ag in the Classroom (NCI AITC), which is based in Garner, IA. NCI AITC educates more than 13,000 children in eight north central Iowa counties about the importance of agriculture.

Brock Beadle, a member of MaxYield’s grain solutions team, presented the contribution to Brenda Mormann, NCI AITC program coordinator.

MaxYield also presented a $500 contribution to the Palo Alto County Farm Bureau to support North Central Iowa Ag in the Classroom educational opportunities in that county.

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 24 locations and three Cenex convenience stores in Iowa. MaxYield also provides grain origination and accounting services for two Iowa feed mills. For more information, visit MaxYield online at www.MaxYieldCoop.com and www.FromTheField.com.