“ We still work with them today ,” Aaron explains .
“ They taught dad how to hedge grain and trade the basis .”
Working with the brokerage service for risk management ultimately was key to Hassard ’ s continued success in grain marketing .
In 1990 , the operation went from a back-to-back marketing grain elevator to a hedging elevator , explains Aaron , Danny ’ s son . Back-to-back simply means farmers would sell their grain to the elevator , and then the elevator would sell the grain to another buyer . The difference between the two prices was the margin by which the elevator operated . An elevator that uses
Whitney Bichsel ( left ), cousin to Aaron Benson , handles much of the business ' office responsibilities as long-time employee Kathy Dean ( right ) cuts back to part time .
hedging as a marketing strategy needs an agricultural lender who understands the process and who can also help provide assistance for needed grain storage .
Aaron adds that risk management came at a time when technology was rapidly advancing . Equipment became faster and more efficient alongside the growth farmers themselves have realized in their own operations .
Facility expansion has been constant for Hassard since the early 1990s . A new office was added in 1992 , while building projects were launched in ’ 93 , ’ 94 and ’ 97 .
Rink ’ s initial retirement also came in 1993 , but , “ I couldn ’ t stand it ,” he says . He re-joined the operation , driving a truck until 2009 , and finally retiring at 80 years old . The 1993 move shifted primary management responsibilities to Danny and Donnie .
Aaron worked for two different grain companies after graduating in 2001 with an agriculture business degree from Missouri State University in Springfield . He joined the business in 2003 .
The elevator continued expanding its facilities into the 2000s . Building projects brought additional storage space in ’ 01 , ’ 04 , ’ 06 , ’ 07 and ’ 09 .
And , 2010 through 2014 brought expansion to the elevator ’ s east drive . The old elevator was torn down . A truck shed was added in 2012 . New bins were built in 2013 as well after a tornado took out some of the facility ’ s older , smaller bins . After a 2015 shop fire , a new machinery shed and shop were constructed .
The Benson ’ s are quick to give credit where credit is due . While adding risk management to their business helped increase customer service and add to their own bottom line , they know working with FCS Financial has been a great fit for their operation .
“ We have to buy the grain ,” Danny explains . “ We have to have a place to put it . Then , we absolutely have to have a ( lender ) to work with us so we have money to pay the farmer . That ’ s big .”
an avenue for the future From shear hard work to determination and forethought , the Benson ’ s are quick to credit Hassard Elevator ’ s success to their dedicated employees and the farmers they serve .
“ When other people are putting out fires , we ’ re working , and we work alongside of them . Dad taught us years ago to never ask somebody to do something you wouldn ’ t do yourself ,” Donnie says .
No matter how many times the Benson ’ s have been asked what they can attribute their success to , time and time again , they pointed to Rink and the lessons he taught them growing up .
The youngest of the Benson ’ s to join the operation , Aaron realizes the sacrifices the generations before him
10 HEARTBEAT | SUMMER 2018