Newsletter | November 2021
We hope your harvest season has been safe, bountiful, and gratifying. We are grateful for your investment in the Carrollton facility; allowing us to purchase grain and add value to the Missouri-grown crop while providing excellent jobs in the community.
In the third quarter, Show Me Ethanol purchased and processed over 5.5 million bushels of corn! Year to date, we have purchased over 15.5 million bushels and produced 46 million gallons of ethanol, 16 million pounds of corn oil, and 115 thousand tons of distillers grains. The employees, supply, product sales and distribution teams have managed well through these difficult logistics markets and executed well on our business plan. We are thankful for their excellent performance!
The 3rd quarter of 2021 was a good one! Ethanol margins improved as driving demand increased through the summer. The third quarter crush margin was better than the industry has experienced in a long time. Our 2021 year to date profits are now over $6 million. The financial statements are summarized on the following pages.
The Board of Managers announced a distribution of $1,000,000 at our annual meeting in July. Throughout the quarter, we became aware of a higher than normal rate of checks being lost, which caused several members to be forced to request new checks. I apologize to those who were affected; we will do better in the future.
The margin structure continues to look positive for the remainder of the year as the economy returns to pre‐pandemic activity. Positive margins and increased corn availability has caused increased ethanol production nation‐wide, which eventually will reduce the ethanol crush margin. Until that happens, we will work hard to “make hay while the sun is shining.” Happy Holidays and thank you for your investment in your locally owned ethanol facility!
Financial Results for Third Quarter Ended September 30, 2021
Total Sales were made up of $36.8 million of Ethanol, $7.2 million of Distiller Grains, and $3.4 million of Corn Oil. Total Expenses include Corn costs in the amount of $35.1 million. Net Income for 3rd quarter of 2021 was $3.0 million.
Paul “Mike” Shields joined our team in September. He lives in Carrollton and has lived either here or in Bosworth his whole life. Mike has a fifteen year old daughter that keeps him pretty busy. Mike is a Lead Operator for SME and comes to us after being a Sanitation Lead for the past twelve years. Paul has a lot of hobbies and stays very active.
Matthew Bohnenberger joined our team in September as a Operator Technician, he lives in Carrollton with his wife of 11 years and 3 boys ages 11, 7, 3, one dog, and one cat. In their spare time they love camping, fishing, hunting, long trail rides in their UTV, and vacationing to new destinations. He is a jack of all trades and a avid DYI’er. He worked at his previous place of employment for thirteen years, and accomplished many rolls there. They include working with many types of chemicals in there sanitation chemical room, mastering all rolls of the shipping department landing him in a professional role writing the new training playbooks, maintenance notifications, LOTO procedure, handling all safety investigations and countermeasure processes, and a department subject matter expert. He was on the safety committee for four years , two as chairman heading up the team. Matt is very excited to have this opportunity to develop further at Show Me Ethanol and thinks this is a great fit.
9/11 Memorial Stair Climb On 9/11/2021, one of our employees and a volunteer Firefighter, Jeremy Ford participated in the Missouri State Fire Marshal 9/11 Memorial Stair Climb on the twenty year anniversary of 9/11. This organization serves families of fallen police, fire and EMS in Missouri. The participants climbed 110 flights of stairs, some in full gear, as Jeremy was. The original goal of the event was to raise $25,000 and that goal was surpassed.
Recent Events‐2021 Octoberfest
This year we celebrated Octoberfest with our employees. A great time was had by all and some more than others as you can see by some of our employees in full costume. We had traditional German bratwurst, homemade German potato salad, (made by Cheralyn Pasbrig) German Chocolate Cupcakes and Non‐ Alcoholic German Beer. We also played corn hole and had a good time interacting with everyone. We will be sure to do this again next year. Coming up this fall will be our Chili Cook‐off!