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 down 36, Beans down 11, Wheat down 46 Crude Oil-105.76 down 4.02 US Dollar-104.69 down .41 Dow Jones-30,775.43 down 253.88
Ouch… rough report day. Ahead of the report grains were mixed as funds placed their final bets. Soybeans tried to rally after the report on fewer than expected planted acres. But quickly turned south after a higher-than-expected domestic stock number overshadowed the acres lost. Corn traded both sides before falling deep in the red on two bearish numbers: larger number of acres planted and higher than expected domestic stocks. Wheat couldn’t find solid ground as funds continued to take profits after seeing a big domestic stock number on the report.
