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Bruce Krehbiel
We would like to thank you for your business this past year. Your harvests' set all time records in receipts for your cooperative. Individually, we received the largest corn, milo, and soybean crop ever! Only the 2003 wheat crop was larger than the 2008 wheat crop. All four crops totaled set a record of approximately 15,000,000 bushels handled which was 25% above normal. A special thanks needs to be given to employees who helped in handling your harvest. They worked long hours from September through November this year to help harvest your fall crops. They unloaded 1,000,000 bushels on the ground when we ran out of storage space in the elevators. they ran grain dryers and moved grain in the elevators night after night to make space available for the next day, and during all of this, they loaded 340 railcars and 6000 semis. We all thank you for your extraordinary effort.
Your directors met in Kansas City in November to discuss current opportunities and strategy for the future. They reviewed the rebuilding of Dillwyn following the tornado in May 2007, the Coats elevator expansion, and the remodeling of the Iuka bulk fertilizer plant. With the limited number of construction crews available in this area due to the Greensburg tornado, most of the maintenance and construction projects have been handled internally. Existing issues and maintenance of plants have been first priority.
The damage at dillwyn as a result of the 2007 tornado was much more extensive than it first appeared, The insurance company and Kansas Farmers Service (our agent) advised us, rightfully so, to keep the insurance file open for an extended period of time. Their experience with tornado damage was invaluable. To date, the cost for damage (although insured) is approaching $800,000. We've rebuilt the elevator first then the fertilizer plant, leaving the scale and office for 2009, but we continue to find issues with equipment damaged by the storm which require attention daily.
We use the same contractor, Grain Elevator Equipment, from Kansas City for all our elevator construction and maintenance with the assistance of our own maintenance crew of four people. When the tornado hit Dillwyn, it forced the delay of the Coats elevator project and the dust system renovation at Iuka. The unexpected issues are arising at the Dillwyn facility continue to create delays in all other projects. For those farmers patiently waiting the rebuilding of Coats and Iuka NH3 plants, those projects will be delayed until 2009-2010. The Coats NH3 plant will need to be moved before spring planting in 2009 to allow for a change in the flow of traffic created by the 600,000 bushel storage expansion to create uninterrupted service to customers. With the renovation of the Iuka dry fertilizer plant moved to the 2009 winter, the next open period to move the Iuka NH3 plant would be the winer of 2010.nbsp;
The Board of Directors and management's mission to provide the best quality local grain elevator handling system was extraordinarily tested in 2008. We will be reviewing issues to continue to improve service to harvest your future crops. Finances, of course, are always an issue. However, the Kanza Coop's excellent financial condition, those monetary considerations can be overcome. the organization will report another outstanding profit this year, which will help pave the way in continuing to improve servicing your future large harvests. | |
St.John Farm Store Crew News _______________________________________________________
With winter vastly approaching, what a better reason to get your vehicles serviced and winterized. Please remember to give ua a call and schedule your family's vehicles for a service. Also, remember if you need tires, stop in and see us about replacing your old worn out tires for a new set.
The past few months we have had some problems with the machine we use to make fuel cards. Well, good news, we have it back up and working again. If you have any problems with your fuel cards, please stop in or give Diane a call, she would be more than happy to help. We want to thank you all for your business in 2008 and have a Happy New Year.
Iuka Feeds ______________________________________________________________________________
As this is being written , we have has a very challenging winter as you know, spring was a long time coming!
With the bulk of winter behind us, we call your attention to wheat and rye pasture and the needs of your livestock under these feeding conditions. A good mineral program is always a sound investment whether we havea good winter or not. Grass tetany is always a problem when you have good, lush green growth. Without a mineral containing the ingredients to prevent this problem, the first symptoms are usually death. Don't cut into your profits; feed your cattle Mag 14 Wheat Pasture Mineral or Wheat Pasture B 1440 March through May, all products of Iuka feeds. We have in stock all minerals and mineral feeders you will need for your specific operation.
Need a stock tank? We have them in stock, any size and shape you may need and the price is the best in town.
We still carry a full line of pet foods for dogs and cats, plus sunflower seeds for our feathered friends.
Dillwyn News __________________________________________________________________________
This is a special time of year when we all need to sit back and count our blessings and realize what we have to be thankful for. I, myself am thankful that the election is over, I don't think I can handle anymore political ads! Whether your candidate won or not, lets all as a country pray that someone can bring our economy and our nation back to the greatness that it once was. As this holiday approaches, I find myself wondering what the men and women who fought in WWW II think of our country now. Veterans Day is virtually non-existent anymore. No one stops to take the time to remember and be thankful for all those who have given their lives for this country and all that it stands for.
As the season of good will and thankfulness approaches, keep all of our service men and women in your list of blessings, be thankful that we live in the heartland where neighbors in need, where family is important, where someone on the street greets you with a smile, and where a handshake is an act of kindness not always a "deal". Maybe the politicians need to spend a little more time out here in the heartland so they can be reminded of the type of people it takes to make this nation strong, honest and great.
From our family to yours, we wish you many blessings and reasons to be thankful this year. | |
Everyday we are faced with a plethora of news reporting these poor economic times. Just this week it was reported that four major economic indicators are down to historic proportions. The jobless rate is at an elevated level and is expected to climb well into 2009, orders for durable goods dropped steeply to its lowest level in over seven years, the economic growth rate is at its lowest in thirteen years and new homes sales are at a seventeen year low. The stock market has dropped off the table as share prices on most of the major market sectors have dropped to unprecendented lows. The financial sector is the hardest hit as major American financial institutions, thought to be liquid and stable, line up for bail out funds claiming to be at the end of their liquidity rope. Additionally the credit crisis has tightened up consumer lending and has exposed many financial institutions with questionable lending practices and management. Though the Federal Reserve has lowered short-term rates in an effort to stimulate the economy it has not translated to lower long-term rates. This has caused the rates to drop on many of the long term financial instruments that investors count on for stability and guaranteed returns in times of market volatility. For most of us the market volatility is driven home at the end of each quarter when we open our retirement account and investment account statements. It's like a punch to the stomach when you realize that your account balance has dropped more than you deposited in the quarter. This leaves everyone questioning where real value can be found for their investing dollars. Though your coop cannot solve the credit crisis or restore the disjointed financial markets we can provide our members with an investment option that will lend some level of comfort. Starting January 1, 2009 the coop will open three new series of term Certificates of Indebtedness (C of I)to its members. The L Series will be a 48 month term certificate at a 4.5% interest rate compounded annually. The M series will be a 60 month term certificate at a 4.75% interest rate compounded annually. The N series will be a 72 month certificate at a 5% interest rate compounded annually. Each of these series will have a $750,000 issue limit which will provide plenty of available opportunity for new investment after current C of I's are rolled over into the new series. There are some stipulations to the C of I program. The C of I's unguaranteed and unregistered securities. To qualify for this program you must be a producing member of the Kanza Coop that resides in the state of KS. If you are interested or have questions about the C of I's, please contact Brad Riley at the Iuka office. Kanza Coop History News___________________________________________________________ The farmers Grain and Cooperative Association of Iuka, Kansas was issued a charter on May 15, 1903. The name of the business was to be The Farmers Grain and Cooperative Association. The purpose of this organization is to "consist in buying, storing and dealing grain, livestock, and all kinds of building material, farm machinery, coal and hardware and in buying and selling all such property on commission or otherwise.
According to the charter, the term for this organization to exist was ten years and was to have nine directors.
The nine directors listed on the charter were: D.H. Stewart, Oscar McGuire, G.R. Kutz, T.J. Arnold, O.G. Deardorff, A. Darby, J.M. Naron, J.W. Craig, and E.W. Frazier. These nine men along with fifty-three other area farmesr who also signed the charter were the original members of this organization.
>It is thought that this cooperative, along with the cooperatives in Pratt, Dillwyn, Stafford, and Zenith were organized along with the guidelines of the Farmers Union. However, somewhere along the line, the original cooperatives in Pratt County did not survive and were later disbanded in 1914-1915. A different group picked up where they left off and were later successful. Though it was not an easy road to success, the Stafford County cooperatives were able to survive with Stafford and Zenith receiving charters in 1904 and 1905 along with Dillwyn in 1907. |
