GRAIN

FC’s Grain Department is structured to support marketing, accounting, and operations. The Grain Marketing Department is overseen by Jon Setterdahl, Vice President of Grain. Barney Bartels, Vice President of Operations for Grain, is responsible for the operations side of FC’s Grain Department. The accounting side of the department is managed FC’s Corporate Controller. Excellent communication between marketing, accounting, and operations is essential to the success of FC’s Grain Department.

Accounting

The Grain Department employs full-time Grain Accountants and a Truck Settlement Clerk who are supervised by the Grain Accounting Manager. The Truck Settlement Clerk is responsible for daily settlement of truck grain delivered to processors. The Grain Accountants handle all accounting duties for the Grain Department. These include: insuring accurate and balanced grain positions, insuring grain is settled with customers in accordance with State and Federal laws and company policy, timely processing of train settlements, profit and loss (P&L) reports, balancing of prior day purchases and sale/contract bushels, and more.

Grain Marketing

As Vice President of Grain, Jon Setterdahl is supported in the grain marketing area by Grain Merchandisers, Grain Originators, and the Grain Accountants. FC currently employs a full-time Corn Merchandiser and a full-time Soybean Merchandiser. These employees are responsible for placing hedges on the grain purchased at our locations and for directing FC’s grain to appropriate markets while maintaining margins. The Grain Merchandisers also work closely with the Regional Operation Managers, Grain Originators and Location Managers to determine grain receipt projections at harvest and through the rest of the year in order to set realistic margins and project FC’s earnings for the year.

Grain Operations

Directly reporting to the VP of Operations are the Regional Operations Managers (ROMs). The ROMs are responsible for grain operations in their respective regions. The ROM position is responsible for assisting each FC location in a region through the Location Managers. Location Managers oversee employees at each location.

At the location level, grain operations employees include the Truck Scale Operator(s), Grain Elevator Superintendent, and Grain Elevator Operator(s). The Truck Scale Operator(s) weigh and grade incoming and outgoing truck loads of grain on a daily basis as well as receive customers on the phone and at the counter at each location. The location Grain Elevator Superintendent is responsible for the Grain Elevator Operators and for managing the quality of grain inventory in the facility. The Elevator Operators support the Superintendent in efforts to maximize blending opportunities and profits for the location while meeting customer demands.