BOB'S REVIEW
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Oct 4, 2016  10/04/16 9:32:32 AM

Sorry for the long delay for not keeping you up to date on what’s been going on in the big city.  Right after the 4th of July, Mike Johnson (part time help) broke his leg working on a home improvement project.  I had to spend more time outside until I could find other help.  It wasn’t until the middle of September when Jeff Graham came on board.  Mike is now back and will help out during harvest.
 
A lot of work has been completed on the projects will started earlier in the year.  The whse/shop up.  Inside wiring needs to be completed.    The new wet bin and the equipment to fill and unload it have been installed.  We did put dry corn in it last week.  Today we are going to pull the corn to make the cone.  We have dumped wet corn in the cement elevator and dried some corn.  PCI came last week and did some work around the bin and driveway.  They also shaped up the ground around the whse/shop.  We hope to get some grass growing before winter.  The electricians have most of the wiring done.  The programmer for the PLC control panel needs to do some work.  All in all, we are pretty much ready for corn harvest.   Harvest hours will be posted at the office.  I’ll try and get them on the web page too. 
 
Early soybean yields have been good.  Maybe above average?  We just need some good drying days so the combines can run.  Looks like after this week’s rain we should have a window to get the beans finished up.    
 
We were lucky we didn’t get the rain amounts like Northern Iowa received two weeks ago.   The processing plants in Cedar Rapids were lucky the Cedar River didn’t get too wild.  Our sub-soil moisture should be well supplied going into winter.  The rains came all summer long, too. 
 
At last month’s annual meeting we reported to our members a net savings of $321,951 for our fiscal year ending July 31, 2016.  The board of directors decided to pay $154,260 in patronage.  25% will be paid March 2017 and the balance in deferred equity.  Patronage for grain bought or sold is 2.36 cents/bu, direct ship grain purchases .5 cents/bu and merchandise/services 11.38%.  It was a pretty good year. Thank you for your support! 
 
Grain markets will start their typical sideways trading pattern during harvest.  The funds will continue to move and make money each and every day.  SA planting and growing weather will be watched and traded.  Any weather issue there or here next year may be the only hope for higher prices.  The world has a lot of grain on hand.  China will try and sell corn out of their state reserves.  Any quality issues with this corn?? 
 
Have a good and safe harvest season.
 
Bob
 
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