Chairman Mark Harless reflected on the year of the COVID-19 pandemic and its impacts on our personal lives, communities, and nation. He offered Golden Growers’ deepest sympathies to friends and families of numerous members who have died from the virus in the past year.
The pandemic had significant impacts on agriculture, according to Harless. Specific to corn milling, fewer cars on the road resulted in gas consumption at its lowest level since 1997, an ethanol production decline by over two billion gallons, and facilities idled or permanently closed. Corn based sweeteners lost business as bars, restaurants, and sporting events were severely restricted. On the positive side, as consumers shifted to online shopping, starch used for the production of cardboard boxes saw a significant increase in demand.
At the ProGold plant, Cargill made adjustments in operating procedures to keep their staff save and maintain uninterrupted operations. “They did a great job”, congratulated Harless. He also offered his congratulations to members for continuing their commitment to feeding the world despite risks involved.
Harless acknowledged some anxiety about policy changes at the federal level with a change in administration. “We do expect the Biden administration will take a different approach toward the ethanol industry. We anticipate fewer small refinery waivers to be approved. The focus on carbon reduction may benefit the renewable fuels industry,” stated Harless.
In the past year ProGold LLC continued to make investments in the plant. “Repair of the finish dryer was completed and the phased replacement of the distributive control system continues to move forward and on schedule,” relayed Harless. While acknowledging additional capital expenditures are likely for a 30 year old plant, Harless stressed that the ProGold plant continues to be in very good condition. There were no natural gas curtailments in 2020 due to a ‘bypass’ project at Fergus Falls that was completed in 2019. Natural gas supply continues to be an issue for the future, however. He indicated that local and state officials continue to work on our behalf on this matter.
As for the future, Cargill’s lease with ProGold continues through 2022, with the possibility of an additional year (through 2023). “While Cargill’s exclusive option to purchase 50% interest in the plant continues through 2021, ProGold will begin preparations for lease negotiations this year,” said Harless.
With vaccines rolling out and infection rates on the decline, Harless said, “We have hope for better days to come. Next year, we anticipate meeting you face to face at our annual meeting with a nice meal to follow.”
‘A Year Like No Other’, Harless highlights the challenges of 2020
/in NewsChairman Mark Harless reflected on the year of the COVID-19 pandemic and its impacts on our personal lives, communities, and nation. He offered Golden Growers’ deepest sympathies to friends and families of numerous members who have died from the virus in the past year.
The pandemic had significant impacts on agriculture, according to Harless. Specific to corn milling, fewer cars on the road resulted in gas consumption at its lowest level since 1997, an ethanol production decline by over two billion gallons, and facilities idled or permanently closed. Corn based sweeteners lost business as bars, restaurants, and sporting events were severely restricted. On the positive side, as consumers shifted to online shopping, starch used for the production of cardboard boxes saw a significant increase in demand.
At the ProGold plant, Cargill made adjustments in operating procedures to keep their staff save and maintain uninterrupted operations. “They did a great job”, congratulated Harless. He also offered his congratulations to members for continuing their commitment to feeding the world despite risks involved.
Harless acknowledged some anxiety about policy changes at the federal level with a change in administration. “We do expect the Biden administration will take a different approach toward the ethanol industry. We anticipate fewer small refinery waivers to be approved. The focus on carbon reduction may benefit the renewable fuels industry,” stated Harless.
In the past year ProGold LLC continued to make investments in the plant. “Repair of the finish dryer was completed and the phased replacement of the distributive control system continues to move forward and on schedule,” relayed Harless. While acknowledging additional capital expenditures are likely for a 30 year old plant, Harless stressed that the ProGold plant continues to be in very good condition. There were no natural gas curtailments in 2020 due to a ‘bypass’ project at Fergus Falls that was completed in 2019. Natural gas supply continues to be an issue for the future, however. He indicated that local and state officials continue to work on our behalf on this matter.
As for the future, Cargill’s lease with ProGold continues through 2022, with the possibility of an additional year (through 2023). “While Cargill’s exclusive option to purchase 50% interest in the plant continues through 2021, ProGold will begin preparations for lease negotiations this year,” said Harless.
With vaccines rolling out and infection rates on the decline, Harless said, “We have hope for better days to come. Next year, we anticipate meeting you face to face at our annual meeting with a nice meal to follow.”
Board Elections – Vacancies in Next Two Years
/in NewsGolden Growers members re-elected Larry Vipond (South District) and Scott Jetvig (At-Large Director) at the 2021 Annual Meeting. Pursuant to bylaw changes approved in 2019, the total number of Board members has now been reduced to nine.
At the 2022 Annual Meeting, there will be three vacancies to fill as three additional board members reach their term limits. Members who have an interest in serving on the Board should either visit with current or former Board members and/or contact our Executive Vice-President, Scott Stofferahn.
“In the next two years, we will have four vacancies to fill as current directors reach their term limits. I really encourage members who have an interest in serving on the Board to talk to one of our Directors or call the office.” Stofferahn specifically mentioned that women members should consider running for the Board. “Since 1995, we have had only one woman director.”
Notice: Golden Growers to hold ‘Virtual’ Annual Meeting
/in NewsThe 2021 Golden Growers Annual Meeting will be held through Remote Communication using GoToMeeting’s Conferencing Services starting at 9:30 am CDT on March 25th.
Members received a letter and an email (for those who have provided an email address to Golden Growers) with instructions on how to connect with GoToMeeting.
If you do call in, you can view the presentation slides below and follow along.
2021 Annual Meeting Slides
SAVE THE DATE: GGC Annual Meeting Set for THURSDAY, MARCH 25TH
/in NewsGolden Growers Cooperative will hold its Annual Members Meeting on Thursday, March 25th. The meeting is tentatively planned for the Doubletree Conference Center, 825 E Beaton Drive, West Fargo, ND. However, the Board of Directors may decide to hold the meeting virtually if it appears that the coronavirus pandemic remains a risk to our members.
Members will have the opportunity to elect Directors to serve on the Golden Growers Board. Current directors up for re-election are:
Directors Gary ‘Butch’ Jirak (C District); Les Nesvig (S District); and Bruce Speich (S District) will reach their term limit and due to the change in Bylaws approved at the 2019 Annual Meeting, their director positions will not be filled and the total number of Directors will be reduced to nine. We offer our sincere appreciation for Butch, Les, and Bruce’s wisdom and dedication to our cooperative.
Any member in good standing is eligible to be nominated to the Board in the district where the member is registered. If you are interested in serving on the Board or want more information about district elections, visit our website at www.goldengrowers.com or contact us at 701-281-0468 or scotts@goldengrowers.com.
Anticipate a Direct Deposit Enrollment Letter in Mid-December
/in NewsThe Golden Growers Board had an extensive discussion about the value of Direct Deposit for members (assurance of accurate and timely receipt of distributions) and the cooperative (lower administrative costs). At the conclusion of that discussion, the Board approved a change in policy intended to gradually move all members to participate in Direct Deposit.
Changes are as follows:
Direct Deposit was first utilized in October of 2017 with 250 members participating (16%). Over the past three years, we have had steady growth in participation with 1,111 members enrolled (73%) for the October payment. Participants have been pleased with the timely, seamless, and secure process for receipt of distributions. They also receive a mailed letter explaining the payment for their records.
Non-participating members will receive a letter in mid-December explaining the change in policy and encouraging participation prior to January Method A payment and the February distribution.
2021 Annual Delivery Agreement (Pool Election) Deadline is December 10th.
/in NewsOn October 5th, Golden Growers mailed the ‘Annual Pool Election’ letter offering members the opportunity to change their delivery method for the coming year. Only members who intend to change their delivery need to respond.
Once delivery methods are set, GGC is not able to change a member’s delivery obligation for the year. Therefore, if you plan to change from Method A (physical delivery) to Method B (GGC acts as your Agent) or visa versa, complete the Annual Delivery Agreement (ADA) printed on the back page of your October 5th letter and return it to the Golden Growers office no later than December 10th.
Note: If you have misplaced your Annual Election Letter and intend to change delivery methods, contact the Golden Growers Office for a replacement letter. (701-281-0468 or scotts@goldengrowers.com)
A REMINDER: Method A Pool Participants have Delivery Choices
Provisions in the 2018 Grain Services agreement with Cargill allowed more options for Method A deliveries that may affect your annual delivery decision.
Key revisions to our Grain Services Agreement include:
We believe these changes allow Method A Pool participants more flexibility and provide for a more efficient process for the Cooperative.
2021 Pool Election Decision
/in NewsEach year, Members have the opportunity to change their method of delivery by submitting a revised Annual Delivery Agreement (ADA). This is your only opportunity to change your method of delivery for the coming year.
You should have already received your Annual Delivery Election letter with the ADA form on the back page. If you intend to change your delivery method, return the form no later than December 10th.
Only members intending to change their delivery method need to respond. Members who deliver directly to the plant through the Method A pool have a $0.07/bushel advantage over members participating in the Method B pool. In 2020, 27% of bushels were delivered by members directly to the plant.
GGC Board Approves Distribution of $0.13/Unit
/in NewsOn September 17th, the Golden Growers Board of Directors approved a distribution of $2,013,762 to members of record as of October 1, 2020. This distribution retires the remaining portion of 2018 allocated income and a portion of 2019 allocated income. In combination with the February and June distributions, a total of $6,196,692 has been issued to members in 2020.
As previously mentioned, the GGC Board believes it is important to build a reserve during the course of this new lease for several reasons that include likely capital expenditures at the plant, and the potential for Cargill to exercise its option to purchase 50% interest in ProGold. This distribution authorized by the Board will result in a remaining equity credit balance for 2019 of $4,144,807 or $0.27/unit. (Note: This balance does not constitute an outstanding obligation for GGC.)
Moving to Direct Deposit for all Members
/in NewsThe Golden Growers Board had an extensive discussion about the value of Direct Deposit for members (assurance of accurate and timely receipt of distributions) and the cooperative (lower administrative costs). At the conclusion of that discussion, the Board approved a change in policy intended to gradually move all members to participate in Direct Deposit. Changes are as follows: 1) The reprint fee, for members not enrolling at the time of request, increases from $25 to $50 as of January 1, 2021; 2) Starting January 1, 2022, GGC will charge an administrative fee of $75 for non-participating members; and 3) GGC will require full participation in Direct Deposit as of January 1, 2023.
Direct Deposit was first utilized in October of 2017 with 250 members participating (16%). Over the past three years, we have had steady growth in participation with 1,111 members enrolled (73%) for the October payment. Participants have been pleased with the timely, seamless, and secure process for receipt of distributions. They also receive a mailed letter explaining the payment for their records.
Golden Growers will be mailing an enrollment letter to non-participating members in December explaining the change in policy and encouraging participation prior to January Method A payment and the February distribution.
Cybersecurity – Protecting Yourself When Online
/in NewsAs we become more and more connected through the regular use of the internet and email, it is easy to become complacent on the risk associated with online activities. There are a few reasonble steps to reduce (not eliminate) your risk.
Passwords: Passwords should not be simple and used for multiple accounts. Make them more complex with a use of numbers and letters with a mix of small and large caps and symbols is useful. Maintain a list of logins and passwords using a password management program (Keeper, LastPass, etc.) or an encrypted spreadsheet.
Two-Step Authentication: Most email, banking, credit card, and social media accounts allow you to ‘opt in’ to two factor authentication (2FA). This is an extra step to log in for the first time on a new device (computer, phone, etc.) that requires a code to be texted to your phone, or emailed to a separate email account before you can access the information. While it can be a bit frustrating, it is much better than finding out that someone obtained access to your bank or credit card account and made a series of purchases.
Lock Your Phone/Computer: All phones and computers allow you to require a password, finger print, etc. to access the device. Without setting up this rather simple level of protection, anyone who, even momentarily, has possession of the device also has access to all of the information on it.
Install antivirus and anti-malware: Antivirus or anti-malware software will help you avoid inadvertently downloading programs that install programs that destroy or access all of your private data. Many good options are available like Norton 360, McAfee, AVG, Malwarebytes, ESET.
Don’t just click that link: Hackers are notorious for sending emails that are disguised as being sent from a legitimate source. Be suspicisous about any email that asks you to click a link or provide login information for an account. Check the UNDERLYING EMAIL ADDRESS to see if it makes sense. (i.e. You won’t receive an invoice for AT&T from an email address like ‘billsatt@yahoo.com’.) The same goes for links in mysterious text messages – don’t click the link.
Avoid use of public WiFi: Publicly available WiFi is notorious for hackers capturing online activity, passwords, etc. If you must, however, use a virtual private network (VPN) service that encrypts your activity while connected to public or hotel internet service. VPN services are fee based, but not necessarily expensive. Options to consider: ExpressVPN; NordVPN; Surfshark; etc.