Category: Ag News

Thu, 15 Sep 2022 12:36:42 CDT

CHS Inc., the nation’s leading agribusiness cooperative, intends to return a total of $1 billion in cash patronage and equity redemptions to its owners in calendar year 2023, delivering on its objectives to share profits with owners and contribute to building strength in rural America.
The total amount of cash to be returned to owners is a decision made by the CHS Board of Directors at the close of each fiscal year. The CHS Board has elected to return $500 million in cash patronage based on business done with CHS in fiscal year 2022, which ended on Aug. 31, 2022. Additionally, the CHS Board has elected to return $500 million in cash to its owners through equity redemptions.
This benefit of CHS ownership will be shared by hundreds of member cooperatives and thousands of farmer-owners. The total of $1 billion distributed in cash would be the largest annual distribution to owners in CHS history and would bring the total amount returned to owners over the last 10 years to more than $3.1 billion.
“The opportunity for owners to receive cash patronage and equity is a fundamental difference between the cooperative model and other businesses,” said Dan Schurr, chair of the CHS Board of Directors. “This critical difference means CHS owners share in the financial success of the company and can leverage that success to fuel strength and growth for their own businesses, their families and the communities we share.”
Final financial results for fiscal year 2022 are expected to be announced in November 2022. Additional patronage-related details will be available at that time, including the amount of fiscal year 2022 patronage equity certificates that will be distributed.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, agronomy, grains and foods, CHS is committed to creating connections to empower agriculture, helping its farmer-owners, customers and other stakeholders grow their businesses through its domestic and global operations. CHS supplies energy, crop nutrients, seed, crop protection products, grain marketing services, production and agricultural services, animal nutrition products, foods and food ingredients, and risk management services. The company operates petroleum refineries and pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.

Thu, 15 Sep 2022 09:47:01 CDT

The National Association of Wheat Growers (NAWG) and U.S. Wheat Associates (USW) applaud the tentative agreement reached between the railroads and rail union representatives that averts a rail shutdown ahead of Friday’s deadline.

The agreement provides rail employees a 24 percent wage increase during the five-year period between 2020 and 2024, while also paying out an immediate $11,000 upon adoption. The labor unions have agreed that they will not strike while the agreed upon deal goes through the ratification process. NAWG and USW would encourage a swift ratification of the agreement.

“NAWG commends all parties involved in the negotiation process for reaching a tentative agreement that averts a rail shutdown,” said NAWG CEO, Chandler Goule. “The pandemic forced the rail laborers into tough situations as essential workers, and we appreciate their willingness to come to an agreement. We also appreciate the railroads understanding the severity of the situation and taking steps to improve their services. Finally, we thank the Administration for its critical roles in mediating negotiations, encouraging agreement and understanding the critical nature of a well-functioning rail system to the agricultural economy and supply chain.”

“Our country’s reputation as the world’s most reliable wheat supplier depends heavily on functioning rail transportation and that won’t change in the future,” said USW President Vince Peterson. “So we welcome this tentative agreement and hope both sides continue to work together to serve shippers like the U.S. wheat industry.”

A railroad strike would have cost the overall economy over $2 billion per day and would have devastating consequences for the prices farmers receive and consumers pay. Wheat farmers are uniquely reliant on rail due to the large distances between production and consumption. Rail has moved over 1 billion bushels of wheat over the last five years, with one car containing enough wheat to make 250,000 loaves of bread.

About U.S. Wheat Associates

U.S. Wheat Associates’ (USW) mission is to “develop, maintain, and expand international markets to enhance wheat’s profitability for U.S. wheat producers and its value for their customers.” USW activities in more than 100 countries are made possible through producer checkoff dollars managed by 17 state wheat commissions and cost-share funding provided by USDA’s Foreign Agricultural Service. USW maintains 15 offices strategically located around the world to help wheat buyers, millers, bakers, wheat food processors and government officials understand the quality, value and reliability of all six U.S. wheat classes. For more information, visit www.uswheat.org.

About the National Association of Wheat Growers

NAWG is the primary policy representative in Washington D.C. for wheat growers, working to ensure a better future for America’s growers, the industry, and the general public. NAWG works with a team of 20 state wheat grower organizations to benefit the wheat industry at the national level. NAWG’s staff members are in constant contact with state association representatives, NAWG grower leaders, Members of Congress, Congressional staff members, Administration officials, and the public.

Thu, 15 Sep 2022 09:02:09 CDT

Brian Freking, SE District Extension Livestock Specialist, offers vaccine handling advice as part of the weekly series known as the "Cow Calf Corner" published electronically by Paul Beck. Today Fr…

Thu, 15 Sep 2022 08:47:44 CDT

The Agricultural Retailers Association (ARA) is encouraged and relieved by the White House announcement this morning of a tentative agreement reached between the rail carriers and labor unions.

The ARA t…

Thu, 26 Jan 2023 07:20:15 CST

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RON’s Dave Lanning has a pre-opening look at today’s agricultural Markets.

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Thu, 15 Sep 2022 03:43:02 CDT

OKC West Livestock Auction – El Reno, OK
Wed Sep 14, 2022

AUCTION
This Week             7,887
Last Reported &…

Wed, 14 Sep 2022 15:35:19 CDT

The U.S. Department of Agriculture and the Oklahoma Department of Agriculture are now putting the Daily Cash Grain Report into a PDF format – we are saving that PDF and archiving them for today’s specific report. To see today’s update, click on the PDF report link at the bottom of this story.

In addition to the PDF of the daily report, you can also listen to the Cash Grain Report by calling 405-621-5533. Push 2 for the grain report.

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Wed, 14 Sep 2022 13:38:03 CDT

The National Council of Farmer Cooperatives today applauded the $2.8 billion announcement by U.S. Department of Agriculture (USDA) Secretary Tom Vilsack, which will fund 70 projects under the Climate-Smart P…

Wed, 14 Sep 2022 13:07:34 CDT

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