Matt Wineinger to Speak at GGC Annual Meeting

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Golden Growers is pleased to announce the speaker at our upcoming annual meeting, United Sugars Corporation President, Matt Wineinger.

Matt was named President of United Sugars in May of 2015.  Prior to United Sugars, Mr. Wineinger served as President of Bulk Ingredients for Tate & Lyle PLC where he had global responsibility for commodity sweeteners, starches, ethanol and more.

Golden Growers is fortunate to have access to someone who thoroughly understands the dynamics of sweeteners in the food and beverage business.

He received his graduate degrees from Kansas State University and the Stanford University Graduate School of Business.

K-1 Tax Form Information

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The Golden Growers Schedule K-1 tax forms have been mailed.  If you do not receive your K-1 within the week, feel free to contact our office.

For members who are not wintering at their address of record and need their K-1 immediately, please call or email with the following:

Member Name; Winter Address: Email Address; Mobile Phone Number; and/or similar information for Tax Advisor.

Send this information to: scotts@goldengrowers.com

2016 Annual Delivery Agreement (Pool Election) Deadline is December 15th

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In October, Golden Growers members received their ‘Annual Pool Election’ letter offering the opportunity to change their method of delivery necessary to meet membership obligations under the Uniform Member Agreement. Only members intending to change their delivery method need to respond.

The Board of Directors believes it is in the Cooperative’s interest to have a large portion of member obligations satisfied through direct member deliveries. Method A pool participation strengthens our relationship with Cargill, ProGold’s tenant, and it assures continued proportional allocation of income to all members of the cooperative. Therefore, we encourage each member to seriously consider the $0.07/bushel Method A advantage when making your annual election.

To change your delivery method, simply complete the Annual Delivery Agreement (ADA) printed on the back page your October 15th letter and return it to the Golden Growers office. Changes in delivery must be received by GGC no later than December 15th.

Note: If you have misplaced your Annual Election Letter and intend to change delivery methods, contact the Golden Growers Office for a replacement letter.

 

Corn Refiners and Sugar Association Settle Lawsuit

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On November 20th, corn refiners and sugar companies reached a settlement in their ongoing legal dispute. In 2011, sugar companies filed suit claiming that the corn refiners campaign promoting HFCS as ‘corn sugar’ and ‘natural’ were false asking for $1.1 billion in compensatory damages. Corn refiners countersued for $530 million suggesting that the Sugar Association was promoting false information and creating fear about the safety of HFCS.

The lawsuits went to trial on November 3rd and were poised to result in a great deal of damage for the entire sweetener industry. Terms of the settlement have not been disclosed. Plaintiffs and defendants issued statements pledging to encourage ‘safe and healthful use of their products…’.

 

The Meaning of ‘Natural’, the FDA Wants Your Thoughts

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The use of the term ‘natural’ as it applies to food has been the result of a great deal of controversy. Many ‘natural’ claims have been litigated over the years over the inclusion of foods containing genetically modified foods or manufacturing processes of foods (i.e. converting corn starch to sweetener).

There have been several petitions to the FDA asking for clarification of what can be claimed as ‘natural’ on a food label. Presently, FDA’s policy states that ‘natural’ means foods that are composed only of substances that are not manmade and that nothing artificial or synthetic has been included. Petitions vary widely. For instance, one petition requests a prohibition for using the term ‘natural’. Another asks for a determination on whether genetic engineered foods or foods containing HFCS can be considered natural.

The request for comments asks:

  • Should the FDA define the term ‘natural?
  • Should the FDA prohibit the use of the term ‘natural’?
  • What types of foods should be allowed to be called ‘natural’?
  • Do consumers confuse the term ‘natural’ with ‘organic’ or ‘healthy’?
  • Should the food manufacturing process be considered?
  • Are there public health benefits in defining the term ‘natural’ in foods?

Golden Growers does not believe the manufacturing process should be considered in the definition. We also think that prohibiting the use of genetically modified foods will result on only organic foods to achieve the label of natural.

If you would like to submit a comment, click on the following link and follow directions to post comments.

FDA Requests Comments on the Use of the Term ‘Natural’ in Food Labeling

 

GGC Board Votes to Issue $0.23 Distribution

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On September 17th, Golden Growers Cooperative’s (GGC) Board of Directors approved a distribution of $0.23 per bushel delivered in 2014 or per member unit, effective for members of record on October 1, 2015.  This distribution has two components:

  • First, the distribution includes the retirement of the remaining $0.0836 per bushel  2014 equity credits.  This completes retirement of remaining 2014 equity credit; and
  • Second, the distribution includes $0.1464 per membership unit as a ‘partnership distribution.”

This brings GGC distributions since 2008 to over $80 million, or about $5.18 per average ownership unit.

GGC Board Approves Equity Credit Retirement of $0.22/bushel.

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At their June 18th meeting, the Golden Growers Board of Directors approved a distribution of $3,408,900, or $0.22/bushel delivered in 2014, to members of record as of June 1, 2015.  Combined with the February distribution, 84% of  2014 allocated income has been retired.  The remaining equity credit balance is $1,295,004 or $0.0836/bushel delivered in 2014.

To date, Golden Growers has issued payments to members totaling $76,648,051.  This represents 142% of members’ original equity investment in the ProGold plant.

 

You Can Help Prove our Corn is Produced ‘Sustainably’

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In his report at GGC’s recent annual meeting, former Chairman Jason Medhaug discussed the demands for sustainability measurements from within the food supply chain.  Measurements normally revolve around three issues: the Environment; the Community; and Economic Sustainability.

The trend for sustainable food production is gaining momentum as food and beverage companies jump on board to demonstrate to consumers that they are responsible corporate citizens.  Cargill, Coke, and Pepsi are among those companies who have made a sustainability commitment.

As a supplier to the food industry, Cargill is working to meet ‘sustainability’ measurement expectations of their customers with the assistance of farm operators who participate in a survey.  Several Golden Growers members are assisting Cargill by utilizing the Fieldprint Calculator for measurement purposes.

The Field to Market organization’s Fieldprint Calculator is emerging as a key tool to show producer sustainability.  The Fieldprint Calculator collects in-field data and provides comparison information on such metrics as water use, greenhouse gas emissions and soil erosion, among others.  Producers can compare their performance to local, regional and national averages.

Cargill can provide additional information on the Fieldprint Calculator and will assist GGC members with data entry.  Contact Bill Costello at William_Costello@cargill.com or call 952-742-2315 for more information.

 

Legacy Planning for Your Farming Operation

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Dan Peterson of e4 Brokerage, LLC met with the GGC Board of Directors at their June meeting to discuss Nationwide Financial’s ‘Land As Your Legacy’ planning program.  “In the next 20 years, 70% of farming operations will transfer form one generation to the next.  In order to preserve the farm for the next generation, planning is critical,” said Peterson.

Nationwide Mutual Insurance is one of the largest insurers of farming operations in the country and 10 of their 16 Board Members are farmers.   Their ‘transitional’ planning program was driven by an interest to preserve a family’s farming legacy.

Elements of a successful transitional plan include:

  • Succession planning;
  • Business planning;
  • Risk management;
  • Financial independence planning; and
  • Estate planning.

“This transition program takes a very deliberate approach,” said Peterson.  It starts with goal setting and data collection.  It proceeds  in a manner to ‘let the farm speak’ about what is necessary for a successful transition.  One of the most important elements is the family meeting exercise.  “All too often, a transition plan fails because interested family members never talk directly about how a transition will take place.”

Nationwide Mutual does not charge for the development of the plan.

If you would like to learn about successful transition planning visit this program link ‘Land as Your Legacy‘ and/or contact Dan Peterson at dpeterson@e4brokerage.com.

 

Lori Buckhouse Joins Golden Growers

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As of March 1st, Lori Buckhouse joined the staff of Golden Growers Cooperative.  Lori has extensive administrative and bookkeeping experience serving both public and private sector institutions.

Prior to joining the ND Barley Council and ND Grain Growers, Lori worked for NDSU’s Agricultural Systems and Biosystems Engineering Department.

Lori will continue to serve the ND Barley Council and ND Grain Growers organizations through an administrative service agreement.  We are very please to have Lori as a member of the Golden Growers family!