CHS owners elect five directors at CHS Annual Meeting

chs board of directors at CHS Annual Meeting
CHS elected five directors at the CHS Annual Meeting. 
Pictured (left to right) are: David Beckman, David Johnsrud, David Kayser, Russ Kehl and Steve Fritel.

The 2018 CHS Annual Meeting wrapped up December 7 as more than 1,900 CHS member-owners took part in educational sessions, board elections and governance, and heard company updates in Minneapolis, Minnesota. A recap of the meeting, including the 2018 CHS Annual Report, videos and photos is ready to view.

During CHS Board elections Friday morning, CHS owners elected a farmer from Nebraska and re-elected four other farmers to serve three-year terms on the board. CHS Directors must be full-time farmers or ranchers to be eligible for election to the 17-member board.

Newly elected Director David Beckman of Elgin, Nebraska, succeeds Don Anthony of Lexington, Nebraska, who retired after serving on the board since 2006. Along with his wife, brother and their families, Beckman raises irrigated corn and soybeans and operates a custom hog-feeding operation. He received his bachelor’s degree in agronomy from the University of Nebraska-Lincoln, and he serves as board chairman for Central Valley Ag Cooperative, York, Nebraska, and secretary of the Nebraska Cooperative Council.

Re-elected were Steve Fritel, Rugby, North Dakota; David Johnsrud, Starbuck, Minnesota; David Kayser, Alexandria, South Dakota; and Russ Kehl, Quincy, Washington.

Following the annual meeting, the CHS Board re-elected Dan Schurr, LeClaire, Iowa, to a one-year term as chairman. Other directors selected as officers for 2019 were:

  • J. Blew, Castleton, Kansas, first vice chairman
  • David Johnsrud, Starbuck, Minnesota, secretary-treasurer
  • Jon Erickson, Minot, North Dakota, second vice chairman
  • Steve Riegel, Ford, Kansas, assistant secretary-treasurer

Learn more about the CHS Board of Directors.

December 14th, 2018 Commentary by Ashton

Happy Friday! Corn prices remain resilient after sell-offs, but still remains rangebound. China may start buying U.S. corn in January according to news reports. 3mmt has been discussed, but ways to handle tariffs not decided. Lack of follow through soybean purchases from China has the market stumbling, as it mulls how long to remain optimistic for larger quantities.

December 12th, 2018 Commentary by Ashton

Good morning! Everything was in the black overnight and leading into the break this morning. President Trump says China is “back in the market” for US soybeans, saying in a Reuters interview, “I just heard today that they’re buying tremendous amounts of soybeans. They are starting, just starting now.” But we’ve seen no sales announcements. 

Afternoon Update:
Headlines at mid-session indicated China had purchased at least 500 tmt of US beans (18.37 million bushels). Other rumors suggested about 2.0 mmt of beans were bought (73.5 million bushels). By that time, beans were well off the day’s high. Corn was just along for the ride, playing the role of follower and barely closed in the positive.

December 11th, 2018 Commentary by Ashton

Good morning!  Corn, beans, and wheat traded both sides of unchanged overnight with everything higher into the break. Look for quiet, choppy trade ahead of the USDA report at 11:00. Telephone conversations between China and U.S. officials yesterday keep optimism as a supporting factor. On another note, the new Farm Bill is ready for a Congressional vote that may come as early as Thursday  

December 7th, 2018 Commentary by Ashton

Happy Friday! Corn and wheat markets are higher while soybeans are lower ahead of weekly export sales. We are in a holding pattern until we see further information on the trade war. Have a great and safe weekend!

Spreads:
Corn: H/K 7 ¼ carry.
Soybeans: F/H 12 carry.

Afternoon Update:
Corn was pulled higher by good weekly exports, stronger wheat and bean markets. Talks continue with China, but we have yet to see any purchases. The Huawei CFO (and daughter of the founder) had a bail hearing this morning and reportedly faces extradition to the US. Where does that leave the trade talks?

December 6th, 2018 Commentary by Ashton

Good morning! Beans gapped lower overnight from yesterday’s close; corn and wheat traded both sides, but favored the negative. Beans continued to sink leading into the break, pulling corn with it. Beans have closed higher for 4 days in a row. Markets feel uneasy this morning about the Chinese trade deal and SA bean production prospects continue to improve, look for a lower day. On a side note, we probably won’t be seeing the Farm Bill until next week.

Spreads:
Corn: H/K 7 carry
Beans: F/H 12 ½ carry

Afternoon Update:
Lower, but closed off the day’s lows, across the board today. South American weather is favorable and there are questions about what’s going on with China and the US. The current cease-fire between the US and China had doubt cast on what was a rosy outlook to get something done when the CFO of Huawei was arrested in Canada at the request of the US. There have been charges of bypassing sanctions on Iran circulating as the reason for the arrest.

December 5th, 2018 Commentary by Ashton

Good morning! Corn and wheat markets are lower while soybean prices are mixed in early trade. Look for a slow choppy day as U.S. financial markets are closed for a national day of mourning.

Spreads:
Corn: H/K 7 carry.
Soybeans: F/H 11 ¾ carry.

Afternoon Update:
Slow day as excitement from last weekend’s announcements faded and government offices/markets were closed. We still haven’t seen any Chinese purchases in the ag markets.

© 2018 CHS Inc.