COMMITMENTS AND CONTINGENCIES |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | NOTE 9 – COMMITMENTS AND CONTINGENCIES The Cooperative contracts with Cargill in connection with the procurement of corn and other agency services for an annual fee of $60,000, which is paid by the Cooperative to Cargill in 4 quarterly installments. The agreements between Cargill and the Cooperative terminate concurrently with the Facility Lease with ProGold LLC, which terminates on December 31, 2026. At its annual meeting in March 2025, the Cooperative’s members approved a Plan of Liquidation and Dissolution of the Cooperative (the “Plan”) that approved (i) the sale of the Cooperative’s 50% interest in ProGold LLC to Cargill within 30 days following expiration of the Facility Lease pursuant to the terms of the ProGold LLC Operating Agreement; and (ii) distribution of the proceeds of such sale, along with all other assets of the Cooperative, to the members. The Plan also grants the Cooperative’s Board of Directors authority to negotiate, execute and file all agreements, documents or instruments necessary to effect such liquidation and dissolution of the Cooperative. Following the approval, on March 27, 2025, the Cooperative filed a Notice of Intent to Dissolve with the Minnesota Secretary of State. |