Fall 2022 Newsletter
Oct 15, 2022
It is hard to believe we are down to a little over a quarter of 2022 left. It will certainly go down as one of the most volatile when it comes to price action in the commodities we buy and sell. From record input prices to grain prices, 2022 has been one for the ages. At Farmers Cooperative, we continue to look for ways to add value to your operation. As part of serving you, we strive to provide the supply of inputs you need, as well as competitive grain pricing and programs, to make your operation successful. We continue to add speed and space in our grain division, as well as upgrade our rolling stock in all divisions.
During fiscal 22/23, various projects have been completed and many are in progress. A 2.0-million-bushel Macon building with 20,000 bph fill capacity will be ready for harvest in Exeter. The greenfield site located near Barnes, Kansas, will not be completed by harvest this year, as too many weather events delayed progress. McPherson Concrete and Habco are constructing 2 – 92’ x 140’ concrete tanks with each holding 820,000 bushels. They will be loaded with 2 – 20,000 bph legs with overheads along with an office for our staff. We have started construction of a new 450,000-bushel bin in Lushton after the June 14th storm took out a couple of bins there, as well as repairing another one by taking it down to the ground, replacing the damaged sheeting, and jacking it back up. Eight overhead bins were constructed in various locations to help with the unload process as well.
An addition to the agronomy center in Odell was completed with Exeter and Wilber in progress. Our new NH3 site was added near Adams where one of 4 – 60,000-gallon bullets were placed; the other three are located in Exeter, Dorchester, and Odell. Several ag tire machines were put in service this year, as well as a tire service truck and propane truck in the energy division. The feed division added several feed trucks, as well as a Micro System in Firth. Five additional power units and grain trailers were added to our transport fleet. We continue to add and update equipment and facilities to better serve you.
As we move into 2023, we will focus on driving efficiencies throughout your company and look for ways to do more with less, so to speak. Three main areas that will have the biggest year on year impact are labor costs, interest costs, and the overall results to all other costs due to inflation, particularly repairs and fuel costs. Each year we do an annual business forecast, and those three categories look to add nearly $10 million to our expense line in the coming year.
Fiscal 21/22 was an excellent year financially for your company and we look forward to reporting our audited results at our annual meeting on January 10th in DeWitt.
Thank you for your business and support and we look forward to serving you again this year. Thanks again, and please have a safe harvest.
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During fiscal 22/23, various projects have been completed and many are in progress. A 2.0-million-bushel Macon building with 20,000 bph fill capacity will be ready for harvest in Exeter. The greenfield site located near Barnes, Kansas, will not be completed by harvest this year, as too many weather events delayed progress. McPherson Concrete and Habco are constructing 2 – 92’ x 140’ concrete tanks with each holding 820,000 bushels. They will be loaded with 2 – 20,000 bph legs with overheads along with an office for our staff. We have started construction of a new 450,000-bushel bin in Lushton after the June 14th storm took out a couple of bins there, as well as repairing another one by taking it down to the ground, replacing the damaged sheeting, and jacking it back up. Eight overhead bins were constructed in various locations to help with the unload process as well.
An addition to the agronomy center in Odell was completed with Exeter and Wilber in progress. Our new NH3 site was added near Adams where one of 4 – 60,000-gallon bullets were placed; the other three are located in Exeter, Dorchester, and Odell. Several ag tire machines were put in service this year, as well as a tire service truck and propane truck in the energy division. The feed division added several feed trucks, as well as a Micro System in Firth. Five additional power units and grain trailers were added to our transport fleet. We continue to add and update equipment and facilities to better serve you.
As we move into 2023, we will focus on driving efficiencies throughout your company and look for ways to do more with less, so to speak. Three main areas that will have the biggest year on year impact are labor costs, interest costs, and the overall results to all other costs due to inflation, particularly repairs and fuel costs. Each year we do an annual business forecast, and those three categories look to add nearly $10 million to our expense line in the coming year.
Fiscal 21/22 was an excellent year financially for your company and we look forward to reporting our audited results at our annual meeting on January 10th in DeWitt.
Thank you for your business and support and we look forward to serving you again this year. Thanks again, and please have a safe harvest.
READ MUCH MORE >