The COVID-19 pandemic continues to change the face of the way business is done, and the same holds true for industry annual meetings. On Monday, Dec. 14, Landus Cooperative hosted a virtual annual meeting, adhering to the social distancing requirements as they discussed their financial health and outlook for the future. Chief Financial Officer, Mark Miner, reviewed the Fiscal Year (FY) 2020 financials, reporting a total profit of $8.6 million following a year that marked a $4 million deficit. The farmer-owned cooperative surpassed $166 million in total revenues and paid out $1.4 million in patronage. Their corn receipts were up nearly 20 percent while fertilizer volume increased by 15 percent and they had a record soy crush with 23.1 million bushels taken in at the Ralston soy processing facility. During the meeting, members of the board of directors were announced with two new members: Matt Chambers of Audubon and Jeff Frank of Auburn. Both Dan Reynolds of Rockwell City and Nate Stewart of Cedar Falls were re-elected. All will serve three-year terms. Officers for the Landus Board of Directors were elected and include Nate Stewart as Chair, Ryan Bristle of Polk City as Vice Chair and Matt Showalter of Hampton, who was re-elected as the Secretary/Treasurer. The non-voting associate member position for Bryce Caple of Maxwell has been extended for 2021. A video of the meeting and President and CEO, Matt Carstens’ vision for the future can be accessed through the link included below.
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Landus Cooperative annual meeting video: https://www.youtube.com/watch?v=Jm9n89pVBIA&feature=youtu.be
