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 7, Beans up 45, Wheat down 5 Crude Oil-114.09 up 3.76 US Dollar-101.75 down .30 Dow Jones-32,637.19 up 516.91
On March 31st after the USDA planting intentions report came out funds pushed money in corn thinking acres would be down. Today when orders hit for funds coming into the market buying beans and selling corn it led to a rally. Basically, funds had their focus on corn acres turning to beans and didn’t listen to talk in the market of acre leaning back into corn. Main focus was on beans today while corn and wheat were set-back on technical selling.
