Fall / Winter


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Fall / Winter 2022-2023 • Vol . 42

We continue our commitment to our customers

Bill Reimers General Manager ( 952 ) 466-3721 billr @ midcountycoop . com
It was a very busy and successful Fall in all areas of the co-op . As we have moved into 2023 , we continue to look to the future and strengthen our commitment to our customers .
The supply of dry fertilizer this fall was adequate . Looking forward to spring , it is a bit of a mixed bag .
The Mississippi river always lends some challenges such as high water , or late spring open , but it has been a long time since we have had to worry about the river being too low . River rates have increased since the they are unable to fill the barges to full capacity .
We are more concerned with Phosphates and Urea supply , because much of that product comes up the river . I do not believe there is cause for panic , but I do see it keeping prices higher than they should be until the river returns to normal .
Potash , on the other hand , is less of a concern since we purchase as much as we can from Canada . Now that the rail strike has been avoided , supply should be adequate .
How do we see the energy markets in the next few months from a local perspective ?
There is a lot in the news that we are running out of diesel fuel . Locally our current supplies are adequate , and most terminals have a ready supply of product .
The US actually refines 20 % more diesel fuel than it uses , and the excess is exported . The question has been raised , should we stop exports ? That initially sounds good , but the last thing we want now is for the US refiners to cut back production .
There is a federal law called the Jones Act that requires all

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maritime commerce between US ports be only US owned and operated ships . The challenge is , US ownership of ships is very small . Why should this matter ? Diesel fuel from the Gulf of Mexico refineries does not get shipped up to the New York Harbor for our own use , consequently it is sent across the ocean . Price volatility has increased on a daily basis this past year .
Previous years we would see a 5 cent per gallon swing in one day , now the average from high to low is about 15 cents per gallon . For those who would like to contract in the future , we suggest you look for dips in the market and to not buy 100 % of your needs at once . Please call at any time for quotes .
Propane inventories have rebounded some in the last few months . If we look at the 5-year average , we started the year with inventories on the bottom of the chart , and now they are in the middle . This certainly could change quickly with all of the new export facilities in the Gulf , and supplies could drop if we experience a long cold spell and an unusually cold winter .
Price wise , we do not expect to see any price relief in the near future since many suppliers and dealers booked their propane months ago , and the price is basically set for the season . If inventories are stable , or better yet , keep growing , we should expect some price relief this spring for next winter purchases .
Within this newsletter is an article on some equipment upgrades in the agronomy department , and we are also in the process of ordering a new fuel truck . This shows our commitment to our customers by maintaining a modern fleet .
Our fiscal year ended August 31st . Our auditors have completed our annual audit , and once again we experienced a very favorable year financially . Hopefully you were able to attend our annual meeting to see the full report . If you were unable to attend , we will gladly send you our annual report .
As always , I appreciate your comments to improve your coop . www . midcountycoop . com
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