March 2020 Newsletter
Mar 01, 2020
A Message From President/CEO, Allan ZumpfeOur focus at Farmers Cooperative is on how we can continue to serve you, our member owners, by adding value to your operation in the most efficient manner. As production agriculture evolves, we continue to see a strong correlation between efficiencies gained and investments in new technology. At Farmers Cooperative, we are making those investments in this space and looking for new and innovative ways to serve you the way you need and want to be served. Investing in technology also means figuring out how to help our growers raise more bushels more efficiently. Despite the grain markets being lower than we would like the last five years, Nebraska and Kansas farmers have figured out a way to produce more bushels, therefore, coming closer to making a profit. With continued investments being made in agricultural areas ranging from seed genetics to precision ag to education, A Message From President/CEO, Allan Zumpfe Allan Zumpfe, CEO 2019 ANNUAL MEETING & NEW BOARD MEMBERS your company is working hard to help our producers be profitable in these challenging times. Farmers Cooperative is very well positioned with both strategically placed facilities to serve our members and with balance sheet strength. Our financials give us the ability to take advantage of strategic opportunities that are present today and those that will continue to present themselves in the future. Please know that all decisions made at your company are first and foremast made with the goal of providing our member owners with the best possible services well into the future and ensuring your company remains one of the strongest farmer-owned cooperatives in the country. The bottom line is that Farmers Cooperative will continue to make investments in agriculture in southeast Nebraska and northeast Kansas to help you grow more and more efficiently, as well as bring market access to help you market that production. We appreciate the opportunity to earn your business every day and will work hard in 2020 to make it the best year possible. Thank you for your business and continued support of Farmers Cooperative.
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Fiscal year 21/22 proved to be one for the record books for your company. Record volumes of grain were handled as a result of the largest harvest handle to date during the fall of 2021. Along with extreme volatility for all commodities, this provided many opportunities for your company. Record prices for both grain and inputs were also experienced in 2022 as the Russia/Ukraine war shifted demand around the world for grains and fertilizers. As the war progressed and sanctions were put on by both sides, Euro Gas jumped to nearly $100/MMBtu, forcing nitrogen manufacturing facilities in Europe to shut down, allowing U.S. nitrogen producers to export to Europe keeping domestic prices in the U.S. firm. Thankfully Europe has had a mild winter this year with only five days having recorded temperatures below freezing so far, bringing gas prices back down, thus causing fertilizer prices to soften as most European nitrogen manufacturers are again producing products.