During the Fall 2020 semester, I had the opportunity to spend two days job shadowing at Eric Howell Grain. I observed the daily work of Heather Howell who has multiple titles due to it being a smaller operation.
Eric Howell Grain is a grain elevator located in Benton, KY and they have two additional drop-off branches in Murray, KY and Stella, KY. They buy and sell white and yellow corn, soybeans, and wheat. Due to the historical increase in commodity prices at harvest time they currently have multiple farmers that are having to fill contracts below what the current cash price is today.
Farmers have the opportunity to grow Enogen corn and Eric Howell Grain will pay a premium price per bushel for the grain. They’ll then sell it to the ethanol plants who will pay a higher price for the corn because it enhances ethanol production. Ethanol production is helping to lead us to a cleaner environment by helping to reduce carbon emissions.
I was able to look at and calculate the shrink reductions costs and drying costs that are dependent upon the moisture percentage the corn is brought in at. Farmers in Western, KY are experiencing much higher moisture levels due to cooler and rainy weather.
Lastly, I was also able to take a look at the end of the months reports that Eric Howell Grain has to turn in to their financial lender which is River Valley AgCredit. River-Valley AgCredit wants to make sure that they are making strides to pay-off their loan and keeping accurate records. In the 2019 end of year financial reports, I was able to review and analyze different key statements and components that were compiled together by a third party accountant.