2010

Everyone,

As 2010 comes to a close on behalf of Ursa Farmers’ Cooperative we would like to thank each of you for all the friendship and support you have given us this past year. We also would like to thank each one of you for taking the time and helping us celebrate our 90^th annual meeting this past year. We only wish that evening could have lasted longer so we would have all had more time to just visit.

Best Wishes and Good Health in 2011.

Gerald Jenkins

Flood Bond & MIssouri Project

First I would like to wish all of you the best of holidays and upcoming New Year.

As we approach the years end we felt we should update everyone on all these public announcements regarding the UFC projects.

Flood Bond:
UFC became award of a flood bond opportunity a couple months ago. This was a federal program offering assistance to companies that were affected by the flood event of 2008. We only found out about it at the last minute but in fact with the help of several business partners were able to qualify for the program. Now just so everyone know the program was not a grant or gift, it was just a friendlier form of a bank loan. It is a federal loan that allows a company to lock in a long term interest rate. We locked in a loan for the replacement of the storage bin that was lost in the flood of 2008 and we also qualified for a loan to update our feed mill because that project was put on hold due to the flood event of 2008. We are happy to let you know yesterday Dec 21st that loan was completed and the loan funds are in our bank to do those projects. The bond process is a very, very complex thing but it did allow us a long term low interest loan and that allowed the CoBank our lenders the ability to approve these projects for the betterment of UFC.
Missouri Project:
As you know a few months ago the Missouri Governor announced a stimulus grant for the development of the Canton River Front area. Many people think that grant was given to UFC, that is not correct. The grant was given to the IDA of Lewis County which has been working with UFC to purchase enough river front property to build a terminal in Missouri. So the grant was given to the IDA not UFC. Yes this was all necessary for UFC to keep our hopes alive to develop terminal in Missouri. Keep our hopes alive? It is just that, we have several issues that need completed before any firm public announcement can be confirmed.
I hope these updates help you understand the exciting future this company is working towards. If you have any questions please contact me. In closing: I would like to thank all of you for the remarkable jobs you do for the company regardless of the situation and for the relationships that have developed between our employees and memebers.
Happy Holidays
Jerry

60 Day DP

60 day D.P.: December 1^st UFC is going to begin offering 60 day free D.P. Be aware we are not sure how long this will last before we run out of room but we felt we should at least make it available as farmers mostly appear to be done farming and are shifting their thoughts toward moving grain. If the weather allows us to load through Dec 15 or 20 we should make a lot of room. If the river shuts down before, we will fill fast. Maybe we should have waited until Jan 1^st but we felt with farming done and the weather good we needed to take the chance. We do NOT have much room for Non Corn and plan calling people with Jan and Feb contracts warning them to haul now or be at risk they will not be able to deliver Jan/Feb contracts.