From a CEO's Perspective

It has been a long time since we've had a harvest continue after Thanksgiving. Most of our customers are done or near done, but there are still crops to be harvested. There is also a significant amount of anhydrous and dry fertilizer to be put on in the east. With the current weather conditions I would anticipate fall fertilizer finishing before we freeze. Randolph has been taking a fair amount of corn due to the river being closed. Most facilities are full. We had some customers who tried 2-3 other companies before they came to Randolph. Utilizing quick ship unit trains, we have been able to create space for corn still being delivered. We have seen pretty good fall application rates and anticipate normal rates in the spring. We had earlier concerns about producers cutting back, but with good yields, this does not appear to be the case.

There continue to be quite a few discussions with regulators on Dicamba and its use. There was a significant amount of drift or migration issues this past season across a lot of the U.S., including Minnesota. Minnesota saw a lot less movement due to lower temps and humidity this summer. In other areas of the country, where temperatures and humidity were higher, it created many issues. CFS had very few issues. We decided to do a 120' boundary around everything, others that did not follow this practice had more issues. I think the State of Minnesota may opt for whatever federal rules are put in place.  I would be surprised if Minnesota decided on an outright ban, but an application deadline in which it could be applied seems more likely.