GRAIN STORAGE & DRYING: - Qualified: 10% of $ paid -Non-Qualified: 0% -Total: 10% of $ paid
INPUTS & SERVICES: - Qualified: 9% of cost -Non-Qualified: 0% -Total: 9% of cost
Checks mailed in December represent 50% of the QUALIFIED patronage dividend. You will pay taxes on the entire Qualified dividend this year. The remaining part of the Qualified dividend will be retained and paid out with all taxes paid in the future. The Non-Qualified portion will all be retained and paid out in the future. You will pay taxes on this portion in the year they are revolved. Currently Ray-Carroll has revolved equity to 2012 and plan to stay within a ten year window.
Patronage Checks Example
If you sold 100,000 bushels of grain to R-C during the 2021 crop
You will receive a check in December for $10,750(50% of Qualified), and you will pay taxes on $21,500 this year.
The remaining $10,750 of Qualified Patronage will be retained and should be paid out within 10 years. Taxes are already paid on this amount.
Non-Qualified Patronage is all retained. Your check for $5,290 should be paid out in 10 years. At that time you will pay the taxes on this amount.
Our plan is to pay the full $26,790 out within a ten year window barring several years of floods/droughts.
Corn down 7, Beans down 40, Wheat down 13 Crude Oil-81.41 up .86 US Dollar-104.74 down 1.2 Dow Jones-34,415.38 down 174.39
Well, not every day can be an up day… Soybeans took a beating while corn and wheat tucked their tails in the corner. A lot went on in the soy complex today, but the main downward driver was a disappointing biodiesel announcement from the EPA. In the past months, soyoil prices have been floating high on the many new renewable diesel projects that have been announced; also giving funds reason to put on fresh longs. Soyoil has been anticipating the EPA to align by increasing blending requirements, but instead they released lower than normal blending requirements today. It’s basically the EPA’s way of saying “go electric.” Soyoil traded limit down on the news and the longs were flushed out causing the whole soy complex to see red.
Brynna
12/2/22
Corn down 14, Beans up 9, Wheat down 22 Crude Oil-80.18 down 1.04 US Dollar-104.52 down .19 Dow Jones-34,429.88 down 34.87
Soybeans were able to make up almost a dime of yesterday's losses in today's trading session. Chinese pricing and bargain buyers were able to make prices firm up a bit. Biodiesel woes spurred another round of technical selling for corn and wheat which caused prices to fall.
