Your Board of Directors has set the following patronage allocations for the fiscal year ended 8/31/21:
QualifiedNon-QualifiedTotal Grain 13.6 cents/bu 5.44 cents/bu 19.04 cents/bu Grain Storage & Drying 10% of $ paid 0% 10% of $ paid Merchandise and Services 10% of cost 0% 10% of cost
Checks mailed in December represent 40% 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 2011 and plan to stay within a ten year window.
Corn up 6, Beans down 1, Wheat up 18 Crude Oil-91.59 up 1.09 US Dollar-105.21 down 1.15 Dow Jones-33,309.51 up 535.10
Grains are treading water ahead of Fridays WASDE. Soybeans rallied early today on strong Chinese demand, but pulled back hard before the close. Corn pushed higher today in sympathy to beans, but find foundation on crop condition concerns. Wheat captured double digit gains due to the hot and dry weather that is shrinking the European crop.
