October 1, 2020

Harvest Update and Health Precautions – September 2020

Dear MaxYield Cooperative Clients,

As we’ve seen throughout the spring and summer, agriculture remains an essential business. While many sectors and industries have shut down or reduced production during this time, farming and the business activities associated with agriculture have maintained operations and will continue to do so.

Though harvest 2020 is beginning, COVID-19 is still present in our communities. We must continue to make choices that help protect our team members, neighborhoods and you, our clients. All counties in the MaxYield trade area are experiencing a steady or increased number of positive cases. In response we are continuing with adjustments to our office procedures:

  • Team members, clients, and others should refrain from entering location offices, other than to conduct essential business (paperwork, grain samples, etc.). Meetings will be held via web conference or phone when possible.
  • If entering a location for essential business or meeting elsewhere, please maintain six feet of distance between yourself and others. This includes any on-farm visits by MaxYield team members.
  • We encourage the use of masks by team members and clients, especially when social distancing is not possible.

Though we are conducting business a little differently, we’re still working hard to provide solutions to you and your farming operation. Our grain, agronomy, feed, energy, and on-farm trucking teams are ready to work with you this fall.

We encourage clients who prefer to contact our team via phone, email or text to do so when possible and appropriate this season. You can find contact information for all MaxYield locations on our website. Connection Central is another great tool for you to view grain contracts, sales tickets, statements and more online and in real time.

I thank you for your flexibility and perseverance through the past several months. I wish you a safe and healthy harvest, and we all look forward to the day when we can put the coffee on, pop the popcorn, and welcome you into our locations with open arms once again.

 

Cooperatively,

Keith Heim
CEO

Fostoria Fire Department Receives Matching Funds Contribution from CHS, MaxYield

Fire chief Kim Kroger accepts contributions from MaxYield Cooperative and CHS that will complete their fundraising campaign to purchase new bunker gear for the Fostoria Fire Department.

MaxYield Cooperative presented the Fostoria Fire Department with a contribution of $2500, plus an additional $2500 in matching funds from the CHS Seeds for Stewardship program. Fire chief Kim Kroger accepted the contributions and the funds will be used to purchase new bunker gear for the fire department.

“After receiving grant money from other sources and with these contributions from CHS and MaxYield, we now have raised enough money that every volunteer with the fire department will now have new and updated gear,” Kroger said. “For a small fire department like ours, that is a big deal. We are really grateful for CHS and MaxYield’s support on this project.”

About CHS Seeds for Stewardship

The CHS Seeds for Stewardship is a competitive grant program that matches funds for projects that develop the next generation of ag leaders, improve ag safety and enhance rural vitality in local communities. CHS is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. More information about CHS is available at www.chsinc.com.

About MaxYield Cooperative
MaxYield Cooperative is a diversified local 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.MaxYieldCooperative.com and www.FromTheField.com.

 

MaxYield Cooperative Announces Positive Fiscal 2020 Results

WEST BEND, IA, – MaxYield Cooperative® recently announced its fiscal results, for the year ending July 31, 2020. The board of directors for MaxYield reviewed and approved the financial audit at their board meeting on August 27.

MaxYield CEO Keith Heim stated that the cooperative had positive local and total savings to report. “Each year presents challenges and opportunities and Fiscal 2020 was no different. I am especially proud of how our team performed and showed grit and resiliency during this COVID-19 pandemic. MaxYield is a solution’s provider and I appreciate the solutions our team brings to our members and clients every day.”

MaxYield Cooperative’s Local Savings from Operations for the 2019-2020 fiscal year were $1,512,243 and pre-tax Total Savings for the cooperative totaled $8.6 million.

“In Fiscal 2020, we achieved the second best total revenue in company history”, Heim said. “Most all revenue areas showed consistency with the past year and remain on upward trend lines. Some areas of note include the second best drying revenue year, solid total energy and feed margins, strong total seed margins and exceptional soybean margins.”

The MaxYield board approved using a portion of this year’s available Section 199A tax deduction internally to mitigate the cooperative’s tax obligation. Heim added that the unused Section 199A tax deduction amount of approximately $1.4 million will be passed through to members for possible use on their individual tax returns.

Heim said that the cooperative maintains a solid balance sheet. “Term debt was reduced by approximately $4.0 million. We maintained adequate working capital levels while spending approximately $13 million on capital expenditures during the fiscal year.”

Member’s equity increased by about $2.65 million in 2020, noted Heim. “MaxYield once again increased retained savings, which now totals nearly $67 million as compared to 1997, when retained savings were ($122,242). The retained savings comparison is a good perspective of the financial improvement at MaxYield over the past 23 years.”

The cooperative’s annual meeting is December 9, 2020 at 10:00 a.m. at the Ketelsen Community Center, located in Everly, IA. More details regarding the annual meeting will be sent to member’s closer to the event.

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.

Data + Confident Decisions = Generations of Success with SciMax

Data is easy to access in farming today. But how do you make sense of all those numbers you harvest with every crop?

Do it right, and you’ll maximize your profit potential. You’ll also set a course for success, not just for today, but for years to come.

The SciMax Solutions team is here to provide solutions tailored to your needs. We have more than 100,000 acres in our system. By combining layers of data and analyzing years of history, we can help you make the best possible agronomic and economic decisions for your operation.

 

THESE SOLUTIONS BECOME EVEN MORE VALUABLE WHEN YOU BECOME PART OF THE SCIMAX LEARNING GROUP.

  • Aggregated data helps you benchmark your operation and determine if you are profitable, compared to other farmers in our system.
  • While data is collected from thousands of acres, your individual farm data is confidential.
  • Easily access all your data to evaluate product performance, help save on crop inputs, grow yield potential and boost your return on investment.

 

Remember the old saying “knowledge is power?” We believe applied data is power. This gives you the confidence to make the best decisions to set your farm up for success, now and for future generations. It’s an honor to help you reach these goals. Learn more at www.scimax.com.

How Farm Analytics Help You Become More Efficient

By Rodney Legleiter

In tough years, it’s even more important to manage your inputs and to maximize profit. Way too often, I hear people want to maximize yield and, obviously, the more bushels you have the more you have to sell. But if it costs you too much to raise, you might not have increased your profitability by increasing yield. – Eric Marchand, Britt, IA

Eric Marchand farms southeast of Britt, IA. He started farming with his dad in 1997 and has slowly taken over and grown the operation.

As a SciMax Solutions® Specialist I get to help growers utilize their data to help them maximize efficiency and profits. Together with SciMax, I’ve been working with Eric Marchand since 2013, utilizing variable rate seeding, variable rate nitrogen and farm analytics. We took some time to ask Eric questions about the benefits of SciMax.

RODNEY LEGLEITER: How do farm analytics help your farm become more cost efficient?

ERIC MARCHAND: Well, when you can take your farm and break it down, you can see where the profit robbing issues are. You can try to correct them or combat them with different hybrids, different nitrogen rates, different fertilizer responses and variable rate planting in certain areas. SciMax compiles the data from other growers in the area, then helps find different practices that are working versus what isn’t working so you can not only see your farm operation but see what others are doing anonymously. This way you can manage each acre slightly different to maximize your profitability on each acre.

RODNEY LEGLEITER: How do you manage input costs to protect profits?

ERIC MARCHAND: It’s about having the right population of the right hybrid on each acre in each area of the field, as well as optimizing your nitrogen rate, your micronutrients, and even your P and K rates. Going clear back to the basic as-planted map and overlaying that with your yield mapping, you can determine your profitability by field, acre and hybrid.

RODNEY LEGLEITER: Talking about variable rate, you’ve been variable rate seeding for quite a few years. Tell us the timeline and history of how you’ve been using variable rate prescriptions and seeding.

ERIC MARCHAND: In 2013 I purchased hydraulic drives on my planter and knew I could variable rate. Since I had the technology available to me, I tried a little bit of corn in a field or two each year. I broadened that into trying a field of beans based on pH and adding four more corn acres. It went to having a prescription written for every acre of corn and beans that I plan to plant each year. I believe variable rate really pays off in optimizing your population. I wouldn’t say you’re cutting back in the less productive acres. You are cutting back your population, but you’re optimizing your population more than just cutting it back to save seed. Cutting back saves the seed cost, but it also allows the best population on that acre to produce the best yield. Saving input cost, as well as increased yield for return, is a double-ended benefit.

RODNEY LEGLEITER: There’s a misconception that you’re going to cut your seeding costs drastically, but that’s really not the case when you’ve pretty much got the same average rate across the field.

ERIC MARCHAND: You’re right. If you decide the ballpark of what you would flat rate that field by seed, once your prescriptions are written, most of the time you’re within one bag. So you’re not cutting back seed. You’re taking it out of the less productive areas and putting it in the higher producing areas. You’re trying to be a little more offensive in the good ground and a little bit more conservative to optimize the situation in the less productive ground.

RODNEY LEGLEITER: Throughout the years you’ve tried the SciMax Nitrogen program with variable rate nitrogen and you’ve been able to reduce your rates by anywhere from 25 to 30 percent over those acres and still maintain, if not, increase yield. What are the different things you’ve tried with the SciMax Nitrogen® program?

ERIC MARCHAND: Yes, definitely. With the variable rate single application or dual applications, you can cut your rates back. I used Learning Blocks to test different rates to see if there was a yield drag where the nitrogen rates were cut. To start, I used Learning Blocks as a convincing agent, especially with variable rate nitrogen. For too long, guys have thought if I pump more nitrogen out there, I’ll get more yield. And then, you see some of the data that SciMax has shown with reducing nitrogen rates, and it really challenges the comfort zone of the ‘old-time-thinking’ and wanting to dump more nitrogen. We wanted to see for ourselves, so we put a Learning Block out that used my old nitrogen rate and a higher rate. When we got our yield maps and lay over the nitrogen rate learning block we saw little to no change, even sometimes a negative response on the higher rate. It builds confidence to make the decision for the right rates next year. And it’s not only nitrogen, you can start analyzing nitrogen rates to planting population to micronutrients and fungicides. Instead of doing strips where your ground might vary across a field, do a section where you see if what you’re doing really matters. You can start to ask the questions, ‘What if I went and did that? Would I have had the same results anyway? Did I just get a banner year and get a good yield out there? Or did I do the right thing by pushing the population or by cutting the population back?’ The Learning Block tells you changing this did work or, in some instances, maybe changing this didn’t work. But it’s not a test plot from a hundred miles away. It’s your Learning Block right there in your own field.

RODNEY LEGLEITER: The farm economy is being impacted, more so in some areas than others. Tell me a little bit about your thought of the farm economy and what you’re seeing, how it’s affecting you and what keeps you up at night, as far as the current farming economy?

ERIC MARCHAND: In tough economic years, it’s even more important to manage your inputs and to maximize profit. Way too often, I hear people want to maximize yield and, obviously, the more bushels you have, the more you have to sell. But if they cost you too much to raise, you might not have increased your profitability by increasing yield. I’m proud to say I have a good partner in SciMax by managing input costs and maximizing profitability.

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.

 

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.

 

 

 

Find Out How to Grow 80-100 Bushel Soybeans!

Find out what it takes to grow 80-100 bushel soybeans!

Join us for our 80-100 bushel soybean meeting.

Dan Bjorklund, MaxYield Seed Team Leader, will be presenting high-yield management strategies to consider this growing season.

Monday, March 18th
2:00 p.m. – 3:30 p.m.

MaxYield’s Tire & Auto Service Center – Meeting Room

310 4th Ave. NE
West Bend, IA

Join us for pie and coffee and high-yield management strategies!

Contact your MaxYield agronomy specialist or Mike Hommez at 712-260-4491, mhommez@maxyieldseed.com for more information

MaxYield Cooperative Announces Fiscal 2018 Results

WEST BEND, IA, – MaxYield Cooperative® recently announced its fiscal results, for the year ending July 31, 2018. The board of directors for MaxYield reviewed and approved the financial audit at their board meeting, held August 23.

“The recently completed year-end showed solid earnings and financial results in a continued challenging agricultural environment,” stated MaxYield CEO Keith Heim. “We had a strong fall 2017 season and even with a very difficult spring, in which some crop inputs and nutrients were simply not applied, seed, crop nutrient and crop protection margins in total were higher than the previous fiscal year.”

Heim added that other noteworthy accomplishments included strong grain drying revenues, increased propane gallons, solid energy margins, plus increased transportation, SciMax Solutions and feed revenues. “Our emphasis on expense control, plus improved grain margins in 2018 also helped us achieve strong fiscal results,” he added.

MaxYield Cooperative’s Local Savings from Operations for the 2017-2018 fiscal year were $1,593,687, and pre-tax Total Savings for the cooperative totaled nearly $4.9 million.

Heim noted that the cooperative continues to build its balance sheet. “This is arguably the strongest balance sheet in our cooperative’s history. Term debt was reduced by $4.4 million, member’s equity increased and we added $3.0 million to working capital in 2018. MaxYield also increased retained savings, which now totals nearly $52 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. We have been and will continue to focus on enhancing revenue and decreasing expenses in this tight economic environment,” he added.

The cooperative’s annual meeting is December 10, 2018 at 10:00 a.m. at the Britt Community Center, located in Britt, 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 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.

Dayton Brugman, crop scouting/soil sampling intern

In some ways, interning at MaxYield was like coming home for Dayton Brugman. Not only was he back in northwest Iowa close to his hometown, but his internship has allowed him to learn even more about local agriculture.

“I’ve grown up around MaxYield and heard about how good their internships are,” said Brugman, 19, a 2017 Clay Central Everly High School graduate who is studying ag business at Des Moines Area Community College (DMACC) in Ankeny. “I worked in Dickens at the chemical facility and at the seed warehouse in Spencer this spring. Treating seed and learning about the different types of seed really sparked my interest in agronomy.”

Q: What inspired you to study agriculture in college?

A: I grew up on a corn and soybean farm near Peterson, so ag has been part of my life from the beginning. I like it and try to stay connected to farming no matter where I’m at. In the fall, I work for a farmer near Ankeny and run the combine for him.

Q: What have you enjoyed about your MaxYield internship?

A: I got an early start on my internship since I started here in March 2018. With a MaxYield internship you learn the foundations of agronomy from the roots up. I’ve learned a lot by participating in MaxYield’s plot days, where you learn from MaxYield’s team and speakers from WinField.

I was based out of Everly but had the chance to go all over MaxYield’s trade territory. I got into soil sampling, crop scouting and tissue sampling. While there’s a push on getting the work done, MaxYield always emphasizes learning. It’s not just busy work. The team is also fun to work with.

I’d definitely recommend a MaxYield internship. It’s so much different than writing answers on a test at college. It’s a lot easier to grasp these concepts in the field.

Q: How have you benefited by having Mason Mentink as your mentor at MaxYield?

A: Mason is very knowledgeable about agronomy. He’s always fun to talk to and is good with the clients. His ability to communicate with them is impressive because he knows how to adapt to different personalities. He knows what each client expects of MaxYield and works hard to serve them.

Q: What are your career goals after graduation?

A:  After I graduate from DMACC, I plan to transfer to ISU in the fall of 2019. I’m undecided about what I want to do at ISU and in my career, but my MaxYield internship is helping me find out what interests me. I know I want to stay in Iowa after college. I’d like to come back to northwest Iowa, because I’m interested in production ag and running our family’s farm.

Editor’s note: Brugman appreciated the chance to have an internship close to home, since he raises show pigs. These pigs have won top honors at the Clay County Fair and have competed in shows including the Iowa State Fair, the World Pork Expo and the Arizona National in Phoenix. Raising pigs is a family affair for Brugman, his parents (Dan and Darcy), his younger brother, Davin, and his younger sister, Dalayna. In his free time, Brugman also enjoys watching sports, including the Minnesota Vikings, ISU men’s basketball and the Washington Capitals ice hockey team. He’s also a fan of the Stanley Cup finals.