March 29, 2020

Grain Market Outlook Meeting – Waverly, IA

Grain Market Outlook Meeting – Waverly, IA

Date: Thursday, February 27, 2020

Time: Noon Lunch, presentation to follow

Location: East Bremer Diner, 117 E. Bremer Ave, Waverly, IA

Nate Durako from Advance Trading will present information on grain markets

 

Contact MaxYield’s Waverly office at 515-200-5149 for more details. See you there!

Standard Nutrition, MaxYield Tap the Power of Partnerships

No one can whistle a symphony; it takes members of an orchestra working together to create this feat. Working in harmony with other professionals is also the key to success in agriculture today. That’s why MaxYield Cooperative has formed a joint venture with Standard Nutrition at the company’s feed mill in Waverly, Iowa.

“We’re excited that MaxYield Cooperative and Standard Nutrition have entered into this grain purchasing and risk management joint venture,” said Ben Buie, grain team leader for MaxYield Cooperative.

Since August 1, MaxYield Cooperative has been handling the grain purchasing, grain accounting and risk management at Standard Nutrition’s feed mill, the former Schneider Milling location east of Waverly. After this family-owned business sold its assets to the agronomy company Nutrien in 2018, Nutrien sold the grain and feed facilities to Standard Nutrition in January 2019.

“While Standard Nutrition is great at making feed, they wanted help with grain origination at Waverly,” Buie said. “MaxYield not only has a state grain license, but the grain origination and accounting expertise Standard Nutrition was seeking.”

Creating a win-win

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

“These things aren’t get-rich-quick schemes, but they do add solid revenue to the cooperative,” said Howard Haas, chairman of the board of directors at MaxYield. “We keep looking for opportunities to help MaxYield succeed.”

Expanding MaxYield’s reach east of Interstate 35 to Waverly was natural extension for the cooperative. “Before coming to MaxYield, I spent seven years of my career over there, so I understand agriculture in that region and know some of the farmers in the area,” said Buie, who noted that pork production thrives in this part of Iowa.

Standard Nutrition’s feed mill near Waverly is a functional location that contains 2 million bushels of grain storage. The facility includes a grain dryer, which is a plus, since ethanol plants don’t take wet corn, Buie noted. Cash grain bids for the Waverly feed mill are posted at www.maxyieldgrain.com/cash-bids.

“We’re rebuilding trust and growing relationships with farmers in this area,” Buie said. “We have a lot to offer, including cash grain marketing options, firm offer programs, off-farm trucking solutions, innovative grain contracts and risk management strategies that farmers probably aren’t getting from an ethanol plant. We want to be a marketing partner that provides solutions to benefit your farming operation.”

Bob Smith, MaxYield grain superintendent at Waverly.

MaxYield’s former Britt location leader, Bob Smith, now serves as the grain superintendent at the feed mill near Waverly, which is his home area. “We’re hitting the ground running at Waverly, thanks to team members like Bob,” said Keith Heim, CEO of MaxYield. “When you look at the success of MaxYield’s long-standing relationships with other feed mills and grain end-users, I’m confident Waverly will be a win-win, too.”

To learn more about marketing grain at the Standard Nutrition feed mill, contact MaxYield’s Waverly office at 515-200-5149.

Plan now to Attend our Grain Outlook Meetings!

MaxYield is dedicated to offering the latest in technology and solutions, all with your farming family in mind.

Join us for our Grain Marketing Outlook meetings, featuring Bruce Nelson, risk management expert at INTL FCStone.

January 9, 2020
9 am – 11 am
Britt Community Center
170 Main Ave S

January 10, 2020
9 am – 11 am
The Shores
14 N Lawler St, Emmetsburg

January 10, 2020
2 pm – 4 pm
Clay Co. Regional Events Ctr.,
800 W 18th St, Spencer

Contact your nearest MaxYield location or grain solutions team member today for more details!!

Directors Approve Grain Facility Upgrades in Klemme

MaxYield’s board of directors recently approved the construction of a new grain storage bin, grain dryer and grain handling infrastructure in Klemme. The $4.5 million project will be completed prior to harvest 2020.

The MaxYield Cooperative board of directors approved at their December board meeting numerous grain facility upgrades at their location in Klemme, IA. The project, which is expected to be completed and ready to use by the 2020 harvest, will begin when spring weather allows.

MaxYield CEO Keith Heim stated that the construction project will be a $4.5 million investment into Klemme. “The project will include a 105-foot diameter grain storage bin with approximate capacity of 750,000 bushels. It will also include 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.”

Bid-letting for the project will be finalized in the next couple weeks.

“Our Klemme facility incurred storm damage in September that greatly affected our ability to serve our members and clients in that area,” Heim said. “We made what modifications we could so we could get through harvest, but we know that it is not feasible to operate this location beyond 2019 without significant upgrades to the facility.”

“We are pleased that the board of directors approved this project. Our strong balance sheet allows us to move forward with several significant projects in 2020. This is an excellent upgrade for our Klemme area clients and we are excited to get started on the project this spring,” Heim added.

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

About MaxYield 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

Annual Meeting Held for MaxYield Cooperative

In addition to detailing MaxYield’s positive local and total returns in 2019, CEO Keith Heim reviewed the cooperative’s commitment to further investments, including this grain storage expansion project in Britt, IA at their annual meeting held December 12.

WEST BEND, IA – MaxYield Cooperative® held its 105th annual meeting Monday, December 12 at the Kossuth County Ag & Motorsports Museum in Algona, IA.

Board chairman Howard Haas called the meeting to order at 10:00 a.m.

During the meeting, MaxYield CFO Susan Post discussed the financial results of the cooperative. The audited financial report for the fiscal year ending July 31, 2019 reported local earnings of $1,790,071 with total pre-tax earnings totaling $7.4 million. Both earnings levels were greater than the prior fiscal year.

In his remarks to the membership, MaxYield CEO Keith Heim stated he was pleased with the cooperative’s fiscal results. “I’m also pleased to report that each department at MaxYield contributed positively to these earnings,” he said.

Heim noted that the cooperative continues to have a very strong balance sheet. “Term debt has decreased by over $4.8 million, member’s equity increased by more than $3.6 million and we added over $2.5 million to working capital in 2019. MaxYield also increased retained savings, which now totals nearly $59 million. In 1997, retained savings were ($122,242), so you can see we continue to make significant progress in strengthening the financial position of MaxYield.”

Both Heim and board chairman Haas emphasized that MaxYield continues to invest in the company. “In January 2019 we purchased property near Britt that included three warehouse buildings totaling 17,000 square feet of space, real estate and seed treating and bulk seed storage tanks. Among other capital expenditures, we’ve also committed to building additional grain storage space in Britt and Belmond in 2020,” Heim noted.

Heim went on to say that MaxYield expanded its footprint in 2019. “On August 1st MaxYield and Standard Nutrition Services entered into a joint venture where we will be handling the grain purchasing, grain accounting and risk management at their newly acquired feed mill east of Waverly, IA. Since 1995, MaxYield has provided grain procurement and risk management services to feed mills and end-users, including Kerber Milling in Emmetsburg which is now owned by Standard Nutrition.”

Nominating committee member Rich Harves of Dickens announced the results of the director election. Eric Marchand of Britt was reelected and Greg Guenther from Algona and Don Salton of Dickens were elected to serve three year terms on the board of directors.

Following the annual meeting, Howard Haas was nominated by the board to continue serving as chairman. David Garrelts and Eric Marchand will continue to serve as vice chairman and secretary/treasurer, respectively.

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 or www.FromtheField.com.

 

Retirement Coffee for Val Auten – Dec. 19

Please join us in celebrating Val Auten’s retirement from MaxYield Cooperative!

For the last several year’s, Val has served MaxYield grain clients at the Standard Nutrition feed mill located in Emmetsburg, IA. We are grateful for his dedication to MaxYield and wish him all the best in retirement!

Val’s retirement coffee will be held…

Date: Thursday, December 19, 2019
Time: 1:00 – 3:00 p.m.
Place: MaxYield Cooperative’s Emmetsburg location office (4498 Works Road)

We look forward to seeing you there!

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.”