At the Golden Growers Annual Meeting on March 19, 2026, in West Fargo, North Dakota, Bill Patrie delivered a heartfelt reflection on cooperation, legacy, and the passage of time. Drawing inspiration from poetry, he recalled the following segment from Dylan Thomas’s poem. ‘Wild men who caught and sang the sun in flight, And learn too late, they grieved it on its way, Do not go gentle into that good night.’
“In my 50-year career in North Dakota, I have worked with start-up cooperatives who have caught and sang the sun in flight. Golden Growers is one of those.” Stated Patrie. “The light we embraced was the belief we could work together to make our individual farms more profitable. You did that, I helped, and I hope that light never goes out.”
He recounted moments with early leaders such as Pat Benedict, Armand Tiegs, and others from the 1993 steering committee whose vision transformed frustration over low farm prices into sustainable prosperity. “A key reason for the success of farmers creating value added enterprises that increase farmers income is their faithful execution of well thought out ideas. Not everyone can execute on those well thought out feasibility studies and business plans.” In the case of Golden Growers, “Pat Benedict could,” continued Patrie.
Throughout his remarks, Patrie emphasized one recurring truth: successful cooperatives are not born of anger or ideology but of discipline, intelligence, and trust. “In my view, new generation cooperatives break clean of political and organizational ideology. The profitable operation of the enterprise is the single goal. If it does not create a net margin, it is not feasible”
Patrie told members that corn growers in the region will never forget what you did at Wahpeton. He also advised members that it is their responsibility to pass along skills learned to generations of future farmers to chart a similar path.
Patrie stated that he made 20 trips to Fargo to assist on the ProGold project noting that this was his 21st. “What a thrill to remember all of you, the important people who built this organization.” Noting the turmoil in the world today, Patrie concluded, “I will remember this period of time in my life that was, for me, my Camelot. A time when violence was not strength and compassion was not weakness. I will remember Golden Growers as an example of courage and leadership and the power of human cooperation to make lives better.”
Patrie’s full prepared speech can be read here.
GGC Board Approves Distribution of $0.23/bushel
/in NewsOn September 10th, the Golden Growers Board of Directors approved a distribution of $3,562,810 or $0.23/Unit to members of record as of October 1, 2026. In combination with the February and June distributions, a total of $10,688,431 has been issued to members in 2026. With this payment, Golden Growers has issued payments to members totaling $164,417,110 or 304.6% of original investment in the ProGold plant.
2026 and 2027 Anticipated Timelines
/in NewsMember Distributions: The expected schedule is as follows:
– October 2026 – Member Distribution to retire equity credits for members of record October 1, 2026
– January 2027 – The Method A delivery incentive payment (for members who delivered in 2026)
– February 2027 – Required member distribution with a minimum of 30% of 2026 allocated income for members of record February 1, 2027.
Note: Golden Growers will withhold 2026 Method B Agency Fees and ND income tax withholding (for non-ND residents) from this payment. If allocated income is similar to 2026, this could be a little over $0.13/Unit.
Equity Distributions: Golden Growers expects the $81 million dollar payment from Cargill on January 1st, but distributions of that equity will not occur until March. Equity is expected to be issued in two separate payments
– Mid-March 2027 – Large initial equity payment.
– Late-March 2027 – Smaller final equity retirement payment.
Note: Quick math ($81M/15,490,480 units) would suggest total equity payments of around $5.20/Unit. Again, the amount is not yet determined and will depend on operating expenses and any unanticipated claims that may occur.
Non-Continuing Operations:
– 2027 Deliveries – There will be no delivery requirements for 2027
– 2027 Annual Meeting/Director Elections – with a pending dissolution of the cooperative, no annual meeting or director elections will occur in 2027.
Golden Growers Office
– January through May – Answer member inquiries, digitize company financial and other company records for archiving,
– February 2027 – Mail 2026 K-1 Tax Forms
– May 31, 2027 – final filings of dissolution with MN Secretary of State and ND Secretary of State.
– May 31, 2027 – Office officially closes.
– February 2027 – Eide Bailly will issue final 2027 K-1 Tax forms to members.
Golden Growers Website
– 2027-2028 – Golden Growers website will remain through 2028, but only for reference purposes.
The Late Pat Benedict Nominated to the National Cooperative Hall of Fame
/in NewsOn September 3, American Crystal Sugar Company and Golden Growers Cooperative nominated the late Patrick Benedict for induction into the National Cooperative Hall of Fame in 2027. The Hall of Fame, sponsored by the Cooperative Development Foundation, honors individuals who have made extraordinary contributions to the cooperative form of business.
After reviewing the history of both cooperatives, the two organizations agreed that Benedict deserved this honor.
In the early 1970s, Benedict recognized that the Red River Valley’s sugar beet farmers were at the mercy of owners a thousand miles away who had no stake in the valley’s future. In 1973, he helped 1,600 growers organize a cooperative to purchase American Crystal. He served as a founding board member and later as chairman. While on the board, he led an effort to change how growers were paid so that the system rewarded quality and efficiency.
In 1994, Benedict said his dream was to have every crop on his farm processed by a farmer-owned cooperative. That vision led him to organize more than 2,000 farmers into Golden Growers Cooperative, which raised $54 million. Golden Growers then joined American Crystal and Minn-Dak Farmers Cooperative as owners of ProGold LLC, which built and operated the corn wet milling plant in Wahpeton, North Dakota.
Nominees selected will be honored at an induction ceremony in October of 2027.
ProGold / Cargill / Golden Growers Celebrate 30 Years of Plant Operations
/in NewsOn September 10th, Cargill hosted a community celebration to commemorate 30 years since the ProGold plant first began operating.
Red Geurts, ProGold’s original plant manager, recalled the challenges of building the plant through record blizzards and flooding. “This was a startup. We didn’t have a parent company to lean on for expertise and support,” he said. To prepare, the company recruited a management team with prior corn milling experience and hired a broad workforce that was trained well before the plant started up. He recalled how showing respect for one another, for our farmer owners and our community shaped our culture, which, according to Geurts included, “Training and support for our employees; achieving the highest standards; and continuous improvement.” He went on to discuss the financial difficulties ProGold faced in its first full year of operation. Without a solution, he said, ProGold would not have survived, and in his view, partnering with Cargill was the right choice.
Cargill plant manager Tony Schanilec said the values Geurts described remain the standard in Wahpeton today. Schanilec also paid tribute to five employees who were part of the original ‘Team Wahpeton’ thirty years ago and who work at the plant yet today. Schanilec explained that, over its 30 year history, the ProGold Facility has been recognized numerous times for excellence in performance, safety, and employee satisfaction.
Stofferahn Discusses Timelines for the Coming Year
/in NewsExecutive VP Stofferahn outlined the anticipated schedule for 2026 and 2027 for members attending the annual meeting which included expected member distributions, legal planning, financial and tax planning, and equity distributions.
Member Distributions: In terms of member distributions, Stofferahn stated that members can anticipate distributions that follow a schedule similar to prior years. The expected schedule would be as follows:
Stofferahn anticipates June and October distributions to be of similar in terms of amounts when compared to the February distribution of $0.23/Unit which also provided for an orderly return of the reserve originally reserved for a long-term joint venture.
Golden Growers will withhold 2026 Method B Agency Fees and ND income tax withholding (for non-ND residents) from this payment. If allocated income is similar to 2026, this could be a little over $0.13/Unit. Here again, the Board has yet to determine an amount.
Equity Distributions: Stofferahn explained that while Golden Growers expects the $81 million dollar payment from Cargill in January, distributions of that equity will not occur until March of 2027. Equity would be issued in two separate payments with a large initial payment and a smaller equity retirement later in March or early April. Quick math ($81M/15,490,480 units) would suggest total equity of around $5.20/Unit. Again, the amount is not yet determined and will depend on operating expenses and any unanticipated claims that may occur.
Continuing Operations: Golden Growers will continue to file quarterly reports and a 2026 annual report with the SEC, General and Private Transfers of Units will continue through 2026, quarterly Board meetings will occur; and 2026 K-1 tax forms will be issued in February of 2027.
Non-Continuing Operations:
Tax Schedule Impacts Dissolution Timeline
/in NewsWhen it comes to issuance of K-1s, Golden Growers and Eide Bailly work as quickly as possible to get them out. This normally means mid-February for the prior calendar year. That will be the case again for 2026 tax reporting. For 2027, Tax Form 1065 & K-1s are due the 15th day of the third month after the tax year ends. For a small partnership, this may be done manually. With 1450 members, however, Eide Bailly will need to use tax software. Unfortunately, the 2027 software needed will not be available until January of 2028 with a mailing timeline in early February of 2028. The IRS penalty for filing a late partnership return is $245 per partner, per month! Fortunately, we can apply for a 6 month extension. Therefore, we can’t dissolve the cooperative until we are assured that taxes can be filed and K-1s issued no later than February 15, 2028 – that date is May 31, 2027 and could be later if we need a timeline cushion.
The Golden Growers office will be closed on the dissolution date. So in 2028, members who often call for a copy of their K-1 mailed or emailed to a winter address or their accountant will not have that luxury. Additionally, if a member moves after the dissolution date, Eide Bailly will not have a current address for them. Therefore, members will need to work directly with Eide Bailly to resolve these situations.
One more note on taxes. Pat Kautzman’s presentation at the Annual Meeting is on the GGC website. We encourage all of you to review & download it. If you have acquired or sold units since 2009, you have homework to do.
GGC Board Approves Distribution of $0.23/Unit
/in NewsOn June 11th, the Golden Growers Board of Directors approved a $0.23/Unit distribution of $3,562,810 to members of record as of June 1, 2026 with the payment to be issued no later than June 30th.
Aside from distributing lease income from ProGold LLC to Golden Growers members, this distribution includes a portion of the remaining reserve that was originally intended for a potential long-term joint venture with Cargill.
GGC has issued payments to members totaling $160,854,299 or 298% of members’ original investment in GGC.
2026 Annual Meeting Election Results
/in NewsCurrent Golden Growers board members were elected for three-year terms at the 2026 Annual Meeting, They include: Brady Koehl, Hancock, MN (At-Large Director); Nick Pyle, Casselton, ND (Central District); and Richard Bot, Minneota, MN (South District). All three were unopposed for their director positions.
Although directors were elected to three-year terms, their terms will end when the cooperative dissolves in 2027.
Immediately after the Annual Meeting, the Board convened to elect officers for the coming year. All existing officers were re-elected to their current positions. Officers elected include:
Chairman – Nick Pyle; First Vice-Chair – David Kragnes; Second Vice-Chair – Brady Koehl; Secretary – Blane Benedict; Treasurer – Larry Vipond
Chairman Pyle recounts Golden Growers history, measures success
/in NewsGolden Growers Chairman Nick Pyle delivered a compelling reflection of the cooperative’s origins, early challenges, and long-term achievements. He honored the vision and dedication of the founding board members and measured the cooperative’s progress against the ambitious goals set at its inception.
Pyle recounted how ProGold and Golden Growers were born from the collaboration of farm leaders who shared a common dream: to build value-added opportunities for corn producers. Backed by the confidence and expertise of successful cooperatives such as American Crystal, Minn-Dak, and the North Dakota Rural Electric Cooperatives, their effort gained momentum. Following eleven regional meetings held in April 1994, more than 2,200 prospective members contributed seed money to advance the project. By November of that year, after reviewing the prospectus, the majority invested $52.5 million to establish the new cooperative.
Wahpeton, North Dakota, was ultimately selected as the site for the ProGold plant. Construction began in May 1995, and operations commenced in September 1996. Yet, as Pyle noted, “even as the plant rose from the ground, the corn sweetener market was shifting.” Industry capacity had grown by 38% while demand increased by only 4% annually. Prices fell sharply, leading to a $30 million loss in ProGold’s first year and even greater losses projected. To safeguard members’ equity, the board decided in 1997 to lease the plant to Cargill—a move that stabilized finances, retired debt, and eventually allowed member distributions to begin in 2008. As Pyle described it, “the fourteen-year drought since initial investment had finally ended.”
Reflecting on the cooperative’s enduring purpose, Pyle reaffirmed that the founders sought not only to solve a market problem through collective action, but also to create an enterprise that would make employees, farmers, and communities proud. The effort spurred local corn production and attracted additional processing investment across the region. “Because of the dream we planted, interest in producing corn blossomed,” he observed.
Pyle concluded, “We have much to be grateful for. Above all, we are thankful for the loyalty of our members who stood by their cooperative through triumphs and trials.”
Pyle’s entire presentation is available here.
Patrie congratulates Golden Growers, asks them to pass skills to future generation of farmers.
/in NewsAt the Golden Growers Annual Meeting on March 19, 2026, in West Fargo, North Dakota, Bill Patrie delivered a heartfelt reflection on cooperation, legacy, and the passage of time. Drawing inspiration from poetry, he recalled the following segment from Dylan Thomas’s poem. ‘Wild men who caught and sang the sun in flight, And learn too late, they grieved it on its way, Do not go gentle into that good night.’
“In my 50-year career in North Dakota, I have worked with start-up cooperatives who have caught and sang the sun in flight. Golden Growers is one of those.” Stated Patrie. “The light we embraced was the belief we could work together to make our individual farms more profitable. You did that, I helped, and I hope that light never goes out.”
He recounted moments with early leaders such as Pat Benedict, Armand Tiegs, and others from the 1993 steering committee whose vision transformed frustration over low farm prices into sustainable prosperity. “A key reason for the success of farmers creating value added enterprises that increase farmers income is their faithful execution of well thought out ideas. Not everyone can execute on those well thought out feasibility studies and business plans.” In the case of Golden Growers, “Pat Benedict could,” continued Patrie.
Throughout his remarks, Patrie emphasized one recurring truth: successful cooperatives are not born of anger or ideology but of discipline, intelligence, and trust. “In my view, new generation cooperatives break clean of political and organizational ideology. The profitable operation of the enterprise is the single goal. If it does not create a net margin, it is not feasible”
Patrie told members that corn growers in the region will never forget what you did at Wahpeton. He also advised members that it is their responsibility to pass along skills learned to generations of future farmers to chart a similar path.
Patrie stated that he made 20 trips to Fargo to assist on the ProGold project noting that this was his 21st. “What a thrill to remember all of you, the important people who built this organization.” Noting the turmoil in the world today, Patrie concluded, “I will remember this period of time in my life that was, for me, my Camelot. A time when violence was not strength and compassion was not weakness. I will remember Golden Growers as an example of courage and leadership and the power of human cooperation to make lives better.”
Patrie’s full prepared speech can be read here.