Valley Coop Board approves the replacement of the outside leg at our Hackney facility. The new leg will have a capacity of 15,000 BPH just as the upgrades for the Winfield and New Salem elevators did this past year. We expect this to improve our ability to receive grain from the country by 50%. The upgrade will be ready for the upcoming wheat harvest.

 

NEWS RELEASE

For immediate release: April 1, 2016

McCUNE COOP JOINS COMARK

Effective April 1, 2016, McCune Farmers Union Coop Association of southeast Kansas will join 12 other cooperatives from across the state as a member owner of Comark Grain Marketing, LLC. As a member of Comark, McCune will benefit from more efficient grain marketing, shared profits, and a reduced risk profile, while still maintaining their local identity as an individual cooperative. Ryan McCoy, Comark Grain Marketing president, said, "Comark looks forward to a long, mutually beneficial, relationship with our new owner."

McCune Coop, incorporated in 1941, is located in Crawford County and also serves producers in Cherokee, Labette, and Neosho counties. The cooperative handles corn, soybeans, milo, hard red winter wheat, and soft red winter wheat. Russ Smith, general manager, said, "Being a standalone coop, we don’t have the volume needed to be competitive, so Comark helps fill that need." Smith also said he appreciates the marketing expertise Comark brings to McCune’s operation, which made joining Comark, "a really attractive deal."

Comark Grain Marketing was established in 2008 to bring efficiency to the grain marketplace while limiting risk for nine cooperative owners and a joint owned LLC in southcentral Kansas. Today, Comark Grain Marketing is responsible for grain merchandising, risk management, sales accounting, and truck and rail logistics in addition to other grain responsibilities for 12 cooperative owners throughout southcentral, southeast, and northwest Kansas. "The addition of McCune will work very well with our other member assets in southeast Kansas," said McCoy. These owners have assets that include 73 elevator locations and over 56 million bushels of grain storage capacity in Kansas, Nebraska, and Oklahoma. Because of the efficiencies created in the relationship between Comark and its members, Comark has returned nearly all profits to their owners.

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Attached: Comark Grain Marketing, LLC logo

Contact details:

Ryan McCoy

 

 

Valley Coop Board Approves Improvements to Kellogg Feed Facility

A new commodity barn is being built to help house the DDG and other feed ingredients for our feed mill. We will also have 4 more feed storage bins for processed feed and another semi tractor and trailer for delivery of feed this winter. The feed business has grown considerably over the past few years and made these improvements necessary to meet our growing customer base. Please stop by the Kellogg location this fall to see all the improvements that have been made over the past few years.

 

     Valley Coop Board Approves New Legs 

At the February board meeting, the Valley Coop board approved the replacement of the legs at New Salem and Winfield with new 15,000 bushel per hour legs. This should effectively triple the speed which we can elevate grain. The continued growth of harvesting equipment and trucking will not change. It is our goal to grow our capabilities to meet our producer needs. The Winfield facility will have the new leg ready for Fall harvest of 2014. The New Salem facility will not be ready until wheat harvest of 2015 as we have to completly re-wire the facility to meet all needs of this project. The electrical upgrade will be a great enhancement to the facility. 

We look forward to continuing to meet the area producers needs.  This will be a commitment of around $1,000,000 to make these upgrades. We thank our producer members for their continued support and are working diligently to meet your needs.    

 

         Valley Coop Board Approves Feedmill Upgrade

At the March board meeting an upgrade of the Kellogg feedmill was approved.  When completed we will have a second pellet mill a new cooler, shaker and leg. This upgrade will also include a new manlift for the facility. We believe this update will improve quality and production of our pelleted feed offerings. We continue to make changes that will be of benefit to our members and patrons into the future.

 

Deferred Equity Payment made in September 2012

The Board of Directors authorized the retirement of deferred equity from the year 1994. In late September 185 members received their share of $36,000 in deferred equity. This payment keeps us on track with our revolvement of equity goals. This brings our total redemptions since 2001 to over $ 996,000.  Thank you for your continued support of YOUR Coop.       

 

  Member Investment Policy Changes Made

At the March 22, 2012 board meeting. The Board of Directors made a few changes to the Member Investment Policy.  A letter went out to Investment holders on March 23rd, explaining the changes.

Interest rate calculations based on our borrowing rates from CoBank were adjusted to follow the Seasonal Rate rather than the Term Rate.

 A cap of $100,000 has been set for an individual member in the program.

The total program cap has been raised from $1,000,000 to $1,250,000. This is broken down as $500,000 in Demand Certificates and $750,000 in 1 year or 3 year C of I's. 

Interest on 3 year C of I's is the same as the CoBank seasonal interest rate, adjusted monthly.  The 1 year C of I's are at 1% under the CoBank seasonal interest rate, adjusted monthly.  The Demand Certificates are at 2% under the CoBank seasonal interest rate, adjusted monthly.

We believe these changes more accurately reflect the current economic conditions and allow more of our members to participate in the program. Please remember that the investments in Valley Coop, Inc are an unsecured liability of the cooperative.

If you have questions about this plan please contact Richard Kimbrel or Donna Fagg for further details. 

 

 

Board of Directors approves Equity Retirement

At the regular August board meeting. The Board of Directors approved the equity retirement payment for the years of 1992 and 1993 revolving fund equity.  This payment will amount to a little over $80,000 being returned to the Valley Coop Members. The board is pleased to make this continued redemption to the membership.

 

Board of Directors Approves New Storage at Burden

The process of removing the 6 small steel tanks and short leg has started at the Burden facility. The Board of Directors has approved the upgrade of the facility, by adding a 100,000 bushel  McPherson concrete storage tank and a new leg for the facility.  This should improve our ability to handle grain more efficiently and faster at the facility.  Work should be completed by wheat harvest 2012. The Board of Directors is committed to enhancing operations to better serve the members and patrons of Valley Coop, Inc.  

  

        Board of Directors Approves New Office and Scales

At a special meeting on November 9, 2010 the Board of Directors approved the construction of a new office and scales at the Hackney location. The new facilities will be moved across the road west of the current facilities. This will remove hazards associated with being in close proximity of the elevator. It also allows us to incorporate larger scales to handle the larger vehicles being used today. The change will also allow for additional grain storage at the location in the future if deemed necessary. There should be no interuption of services during the building process. With good weather we should be in the new facility by late winter or early spring. 

 

            Board of Directors Approves Equity Redemption

At the August board meeting the board approved the redemption of the 1990 and 1991 revolving fund equities. This will amount to around $82,000 being distributed in late September of 2010.  This brings us one step closer to our goal of a 15 year revolving fund by September of 2011. The board also adopted a new equity redemption policy which will broaden the scope of our current program for the future as we come closer to achieving our goals on our revolving fund account. 

 

Happenings

 

 

On March 31, 2010 we closed the books on another fiscal year. Another good year for your Cooperative and it's members.  Earnings before taxes of $444,015. Down from our record year last year, but one of the strongest performances of the companies history. Along with local earnings and patronage we also saw some good things with our taxes. This year because of some tax advantages in using the Domestic Production Credit Deduction we were able to use a $198,000 credit to our taxes and as such bring our total earnings after taxes to $642,000.  After all non patronage business is sorted out we will be paying patronage refunds of $250,000 back to our members of which 50% will be in the form of cash and the other 50% in stock.  We will also be passing back, as we did last year a portion of our Domestic Production Credit Deduction which will amount to $325,000.  What that means to you as a patronage receiving member is that you will receive in cash  $125,000 and credit against other income of $325,000. That is 1.8 times the amount you will be paying taxes on as patronage income from Valley Coop this year.

 

As you remember last year we passed on around $360,000 of Domestic Production Credit Deduction towards the end of last year.  Please be sure to give all the information to your tax attorney for computations of this years patronage and credits.

 

We have purchased a USC seed treatment machine for use in the coming seasons.  It's main use will be for Soybean inoculation, but can be used to treat wheat or any other grain as needed. I think you will see more and more use of this type of application in the future. It is more cost effective to do the treatments at the local level than to buy it on the seed. There are some significant cost savings and the application is more uniform than can be accomplished at the seed box.  Please ask any Valley Coop location manager or contact Kirk Kennedy at 620-229-0312.  I think you will be pleased with the results.

 

Harvest is just around the corner.  All Valley Coop facilities will be ready to handle your wheat crop when the time comes. Please be sure you have harvest splits made at the locations early so that we may accommodate your needs efficiently. Hopefully the crop will be of milling quality and some of our more traditional avenues for moving our grain will be accessible for us this year. Do remember that we offer "Direct Ship" bids to area terminals.  You just need to pickup bill's of lading to use in the delivery process. Please contact Rebecca at 620-221-4343 to acquire these documents and instructions on filling them out. This makes the process much smoother and lets the terminals know how to handle the grain.

 

We are in the process of upgrading aeration at several locations. As we continue to see more and more fall crops being harvested we need to continue to bring the elevators up to date in handling the varied products that we handle today. The days of Wheat and a little Milo are long gone at this point. We will continue to keep your assets in tune with the times we are in as we go forward.

 

Wishing all of you a great Harvest season and year.

 


Valley Coop to have soybean inoculator for coming season.



The Board of Directors of Valley Coop, Inc at their November meeting elected to buy a machine capable of both grain inoculation and seed treatment capabilities. It will be operational for the coming soybean planting season. The machine will be capable of both inoculation and seed treatment application in a single operation. Further information will be forthcoming about this new offering to our member owners, and patrons.