Annual Report - CoBank

RegionalAgribusinessBANKING GROUPCeres SolutionsFor Ceres Solutions, a diversified agriculture,grain and farm supply cooperative, meetingmember expectations is increasingly aboutspeed and volume. The co-op, based inCrawfordsville, Indiana, serves more than adozen counties and sells more than 200,000tons of dry fertilizer annually. While Ceres hasnever had a problem meeting customer needs,the logistics can be challenging.“Farms are getting larger and the speed ofdoing business is getting faster,” says CeresSolutions CEO Jeff Troike. “Our customerswant to know that we have the product theywant when they want it. To do that, we needto be more efficient.”Ceres recently partnered with Minnesota-basedCHS, Inc., the nation’s largest cooperativeenterprise, to form Whitesville Crop Nutrients,LLC and began the process of building a new50,000-ton storage facility. CHS, which hashad a long relationship with CoBank, neededto store fertilizer in the area without payingcostly warehousing fees, while Ceres neededa convenient option for maintaining largeamounts of inventory.“When it came time to look for financing,our decision was easy,” says Troike. “CeresSolutions has a longstanding relationshipwith CoBank. They’ve been our lender ofchoice forever. The loan process is simple –something I really appreciate. I also appreciatetheir understanding of our business. CoBankrecognizes that we’re building for the future.”The new facility, completed in 2011, hasexceeded expectations. “Farmers can drivetheir trucks in most any time of day and beloaded and back on the road in 15 minutes,”Troike says. “In just a few months we’ve beenable to consolidate retail operations, reduceexpenses and increase efficiencies. That’s goodfor us, and good for our members.”Jeff Troike, Ceres SolutionsChief Executive OfficerChris Jones, CoBankSenior Relationship ManagerDerrick Waggoner, CoBankRegional Vice President18COBANK 2011ANNUAL REPORT