November 24, 2020

MaxYield Co-op Holds 102nd Annual Meeting

MaxYield Cooperative® held its 102nd Annual Meeting Wednesday, December 14th at the Kossuth County Ag & Motorsports Museum in Algona, IA.

MaxYield CEO Keith Heim, filling in for 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. Highlights of the audited financial report for the fiscal year ending July 31, 2015 included local earnings of $225,855 and total earnings reaching $4.90 million.

Heim, in his remarks to the membership, commented on the tight ag economic environment and its effect on the cooperative’s financials.  “From an income statement perspective, this was the most challenging operating environment we have experienced since the 2007 fiscal year. Large domestic and world grain supplies have been built the past two years putting significant pressure on grain prices and margins,” Heim said.

He went on to say that “Back to back large U.S. crops in 2015 and 2016 has also contributed to the build of these large grain reserves. These fundamentals have production agriculture and agri-business in a tighter operating environment for the third consecutive year in 2016. This has shown across the entire agricultural landscape.”

Heim also discussed the even with the tight ag economy, MaxYield Cooperative enjoys a strong balance sheet. “The continued financial strength of your cooperative has allowed us to invest over $38 million in facilities and equipment since 2008, an average of $4.3 million per year. Our strong balance sheet also allowed MaxYield to be in position to capitalize on the recent acquisition of seven locations in Northwest Iowa, previously owned by The Anderson’s, Inc.”

Board vice chairman David Garrelts of Emmetsburg announced the results of the director election. Eric Marchand or Britt, Toddy Meyer from Everly and Jim Wirtz of West Bend were reelected to serve three year terms.

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 or www.FromtheField.com.

 

 

 

 

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