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 4, Beans up 9, Wheat down 23 Crude Oil-87.91 up 1.38 US Dollar-106.65 up .15 Dow Jones-33,980.32 down 171.69
Grains felt heavy today but corn and beans were able to capture slight gains. Chinese buying last night sparked a short rally for beans, but weak vegoil prices pulled them off their highs. Corn only had a 10-cent trading range today with little news to give direction. Wheat fell hard today after news of Iraqi cancelling a tender hit the market.