Golden Growers Cooperative (GGROU) 10-Q 14 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 13, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-53957
Entity Registrant Name	Golden Growers Cooperative
Entity Central Index Key	0001489874
Entity Tax Identification Number	27-1312571
Entity Incorporation, State or Country Code	MN
Entity Address, Address Line One	1002 Main Avenue West
Entity Address, Address Line Two	Suite 5
Entity Address, City or Town	West Fargo
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58078
City Area Code	701
Local Phone Number	281-0468
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,490,480

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and Cash Equivalents	$ 904	$ 2,097
Short-Term Investments	4,686	4,548
Other Current Assets	97	318
Total Current Assets	5,687	6,963
Long-Term Investments	2,731	2,788
Investment in ProGold LLC	16,676	17,073
Total Assets	25,094	26,824
Current Liabilities
Accounts Payable
Accrued Liabilities	6	421
Commitments and Contingencies
Total Current Liabilities	6	421
Non-Current Liabilities
Total Liabilities	6	421
Members' Equity:
Members’ Equity        Membership Units, Authorized 60,000,000 Units, Issued and Outstanding 15,490,480 as         of March 31, 2024 and December 31, 2023	25,124	26,436
Accumulated Other Comprehensive Income (Loss)	(36)	(33)
Total Members’ Equity	25,088	26,403
Total Liabilities and Members’ Equity	$ 25,094	$ 26,824

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - shares shares in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Membership Units, Authorized	60,000,000	60,000,000
Membership Units, Issued	15,490,480	15,490,480
Membership Units, Outstanding	15,490,480	15,490,480

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATIONS
Corn Revenue	$ 18,143	$ 31,283
Corn Expense	(18,154)	(31,297)
Net Income from ProGold LLC	1,593	1,605
General & Administrative Expenses	(215)	(210)
Net Income from Operations	1,367	1,381
Other Income	109	92
Net Income Before Income Tax	1,476	1,473
Net Income	$ 1,476	$ 1,473
Weighted Average Shares/Units Outstanding	15,490,480	15,490,480
Earnings per Share/Membership Unit
Primary and Fully Diluted	$ 0.10	$ 0.10

CONDENSED STATEMENTS OF COMPREH

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
COMPREHENSIVE INCOME
Net Income	$ 1,476	$ 1,473
Unrealized Gain (Loss) on Investments, Net	(3)	5
Comprehensive Income	$ 1,473	$ 1,478

STATEMENTS OF CHANGES IN MEMBER

STATEMENTS OF CHANGES IN MEMBERS' EQUITY $ in Thousands	Common Stock [Member] USD ($)
Beginning balance, value at Dec. 31, 2022	$ 27,654
Net income	1,473
Unrealized (loss) on investments	5
Distributions to Members	(2,478)
Ending balance, value at Mar. 31, 2023	26,654
Beginning balance, value at Dec. 31, 2023	26,403
Net income	1,476
Unrealized (loss) on investments	(3)
Distributions to Members	(2,788)
Ending balance, value at Mar. 31, 2024	$ 25,088

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net Income	$ 1,476	$ 1,473
Net (Income) from ProGold LLC	(1,593)	(1,605)
Changes in assets and liabilities
Other Current Assets	221	212
Accrued liabilities and payables	(415)	(198)
Net Cash Used in Operating Activities	(311)	(118)
Cash Flows from Investing Activities
(Purchase) of investments	(1,820)	(58)
Proceeds from investments	1,736
Distribution received from ProGold LLC	1,990	1,929
Net Cash Provided in Investing Activities	1,906	1,871
Cash Flows from Financing Activities
Member distributions paid	(2,788)	(2,478)
Net Cash Used by Financing Activities	(2,788)	(2,478)
Increase (Decrease) in Cash and Cash Equivalents	(1,193)	(725)
Cash and Cash Equivalents, Beginning of Period	2,097	2,146
Cash and Cash Equivalents, End of Period	904	1,421
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Unrealized Gain (Loss) on Investments	$ (3)	$ 5

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The condensed financial statements of Golden Growers Cooperative (the “Cooperative”) for the three-month periods ended March 31, 2024 and 2023 are unaudited and reflect all adjustments consisting of normal recurring adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim period. The condensed financial statements should be read in conjunction with the financial statements and notes thereto, contained in the Cooperative’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The results of operations for the three-month period ended March 31, 2024 are not necessarily indicative of the results for the entire fiscal year ending December 31, 2024.

EXPENSES

EXPENSES	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
EXPENSES	NOTE 2 – EXPENSES The Cooperative contracts with Cargill, Incorporated (“Cargill”) in connection with the procurement of corn and other agency services for an annual fee of $60,000 4 December 31, 2026

PROGOLD LIMITED LIABILITY COMPA

PROGOLD LIMITED LIABILITY COMPANY	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
PROGOLD LIMITED LIABILITY COMPANY	NOTE 3 – PROGOLD LIMITED LIABILITY COMPANY Prior to March 1, 2022, the Cooperative and American Crystal Sugar Company (“American Crystal”) held a 49% 51% 50% 1% 50% 0% 0% March 31, December 31, (In Thousands) 2024 2023 2023 Current Assets $ 197 $ 209 $ 201 Long-Term Assets 33,201 35,840 33,945 Total Assets $ 33,398 $ 36,049 $ 34,146 Current Liabilities $ 45 $ 29 $ — Long-Term Liabilities — — — Total Liabilities 45 29 0 Members’ Equity 33,353 36,020 34,146 Total Liabilities and Members’ Equity $ 33,398 $ 36,049 $ 34,146 Rent Revenue on Operating Lease $ 3,952 $ 3,953 $ 15,810 Expenses 766 743 3,641 Net Income $ 3,186 $ 3,210 $ 12,169

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	NOTE 4 – INVESTMENTS The Cooperative has determined fair value of its investments based on Level 2 inputs (in thousands): March 31, 2024: Level 1 Level 2 Level 3 Total Corporate Bonds - Held to Maturity $ — $ 6,570 $ — $ 6,570 Fixed Income Funds - Available for Sale — 691 — 691 Money Market & CD’s — 128 — 128 $ — $ 7,389 $ — $ 7,389 December 31, 2023: Corporate Bonds - Held to Maturity $ $ 6,030 $ — $ 6,030 Fixed Income Funds - Available for Sale — 685 — 685 Money Market & CD’s — 601 — 601 $ — $ 7,316 $ — $ 7,316 Maturities of corporate bonds are as follows as of March 31, 2024 (in thousands): Net Carrying Fair Amount Value Due in 1 year or less $ 3,867 $ 3,865 Due in 2 to 5 years 2,401 2,392 Greater than 5 years 330 313 $ 6,598 $ 6,570 The Cooperative’s investments are as follows as of March 31, 2024 and December 31, 2023 (in thousands): Amortized Unrealized Unrealized Cost Gains Losses Fair Value March 31, 2024: Corporate Bonds - Held to Maturity $ $ $ (49 ) $ Fixed Income Funds - Available for Sale 727 — (36 ) 691 Money Market & CD’s 128 — — 128 $ $ $ (85 ) $ 7,389 December 31, 2023: Corporate Bonds - Held to Maturity $ $ $ (50 ) $ Fixed Income Funds - Available for Sale 718 — (33 ) 685 Money Market & CD’s 601 — — 601 $ $ $ (83 ) $ 7,316 The following table shows the gross unrealized losses and fair value of the Cooperative’s securities with unrealized losses that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2024 and December 31, 2023. Less than 12 Months More than 12 Months Unrealized Unrealized March 31, 2024: Fair Value Losses Fair Value Losses Corporate Bonds - Held to Maturity $ $ (12 ) $ $ (37 ) Fixed Income Funds — — 488 (36 ) $ 1,960 $ (12 ) $ 1,561 $ (73 ) December 31, 2023: Corporate Bonds - Held to Maturity $ $ (18 ) $   $ (32 ) Fixed Income Funds 201 (1 ) 484 (32 ) $ 1,238 $ (19 ) $ 1,917 $ (64 ) The Cooperative establishes an allowance for credit losses on debt securities where the fair value is less than the amortized cost basis to the extent the unrealized loss is due to credit losses. The expected credit losses are presented as loss on investments in the accompanying statement of operations. The Cooperative’s process for establishing the allowance for credit losses considers the risk characteristics of the security class. To the extent possible, losses are estimated collectively for classes of securities with similar risk characteristics. For securities that do not share similar risk characteristics with others, the losses are estimated individually. For available-for-sale debt securities, losses are estimated at the individual security level. The Cooperative’s allowance for credit losses are influenced by a variety of factors, including portfolio credit quality and general economic conditions. General economic conditions are forecasted using economic variables which will create volatility as those variables change over time. The Cooperative’s allowance for credit losses on it’s held to maturity securities and its available for sale securities was not significant as of March 31, 2024 and December 31, 2023. The Cooperative did not recognize any credit losses on its held to maturity securities and available for sale securities for the periods ended March 31, 2024 and December 31, 2023.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	NOTE 5 – EMPLOYEE BENEFIT PLANS Pension Plan – In December 2022, the Cooperative approved a resolution to terminate the plan on March 31, 2023. The process of terminating the plan includes the purchase of annuities from the assets of the plan to satisfy payment of vested benefits to participants as prescribed by the Pension Benefit Guarantee Corporation’s standard termination process. As of December 31, 2022, the pension plan was funded as required by the funding standards set forth by the Employee Retirement Income Security Act (“ERISA”). In February 2024, in connection with the termination process for the Cooperative’s pension plan, an annuity was purchased using plan assets at a cost of approximately $625,000 The Cooperative anticipates that the process of terminating the plan will conclude in June 2024. The plan’s fair value and benefit obligation will vary over time as a result of changes in market interest rates, the life expectancy of plan participants, and benefit payments. As of December 31, 2023, the plan had a total fair value of $ 694,000 680,000 704,000 636,000

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 6 – REVENUE RECOGNITION The Cooperative derives revenue from two sources: operations related to the marketing of members’ corn and income derived from the Cooperative’s membership interest in ProGold LLC. The Cooperative recognizes revenue from its corn marketing operations equal to the value of the corn that is delivered to Cargill and certain purchased corn and agency fees paid by members. Identify Contracts with Customers Annually, the Cooperative is required to deliver approximately 15,490,480 60,000 4 Performance Obligations Members who deliver corn under Method A are paid the market price or contracted price for their corn at the time of delivery, as well as an incentive payment of $.05 Members who elect Method B to deliver corn pay the Cooperative a $.02 Variable Consideration The Cooperative’s Board of Directors has the discretion to change the member incentive payment, purchased corn and agency fees based on the Cooperative’s corn delivery needs. The Cargill agency fee is also a component of corn expense. Significant Judgments The evaluation of contracts with customers, performance obligations, and variable consideration requires significant judgment. The decision to combine contracts or separate a combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. For the three-month periods ended March 31, 2024 and 2023, the Cooperative recognized corn revenue of $18.1 $31.3 Method A $6.5 $12.8 Method B $11.6 $18.5

DISTRIBUTIONS TO MEMBERS

DISTRIBUTIONS TO MEMBERS	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
DISTRIBUTIONS TO MEMBERS	NOTE 7 – DISTRIBUTIONS TO MEMBERS On February 27, 2024, the Cooperative made distributions to its members totaling $2,788,286 0.18 $2,478,477 $0.16

LINE OF CREDIT

LINE OF CREDIT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
LINE OF CREDIT	NOTE 8 – LINE OF CREDIT The Cooperative has a $2,000,000 0.5%, 8.00% no

COMMITMENTS AND CONTINGENCIE

COMMITMENTS AND CONTINGENCIE	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIE	NOTE 9 – COMMITMENTS AND CONTINGENCIE The Cooperative contracts with Cargill in connection with the procurement of corn and other agency services for an annual fee of $60,000 4 The agreements between Cargill and the Cooperative terminate concurrently with Cargill’s Second Amended and Restated Facility Lease with ProGold LLC, as amended, which terminates on December 31, 2026.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS The Cooperative has evaluated events through the date the financial statements were issued for potential recognition or disclosure in the March 31, 2024 financial statements and concluded that no subsequent events have occurred that would require recognition in the March 31, 2024 financial statements.

PROGOLD LIMITED LIABILITY COM_2

PROGOLD LIMITED LIABILITY COMPANY (Tables)	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Financial Information for ProGold LLC	March 31, December 31, (In Thousands) 2024 2023 2023 Current Assets $ 197 $ 209 $ 201 Long-Term Assets 33,201 35,840 33,945 Total Assets $ 33,398 $ 36,049 $ 34,146 Current Liabilities $ 45 $ 29 $ — Long-Term Liabilities — — — Total Liabilities 45 29 0 Members’ Equity 33,353 36,020 34,146 Total Liabilities and Members’ Equity $ 33,398 $ 36,049 $ 34,146 Rent Revenue on Operating Lease $ 3,952 $ 3,953 $ 15,810 Expenses 766 743 3,641 Net Income $ 3,186 $ 3,210 $ 12,169

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Fair Value of Investments Held to Maturity Based on Level 2 Inputs	March 31, 2024: Level 1 Level 2 Level 3 Total Corporate Bonds - Held to Maturity $ — $ 6,570 $ — $ 6,570 Fixed Income Funds - Available for Sale — 691 — 691 Money Market & CD’s — 128 — 128 $ — $ 7,389 $ — $ 7,389 December 31, 2023: Corporate Bonds - Held to Maturity $ $ 6,030 $ — $ 6,030 Fixed Income Funds - Available for Sale — 685 — 685 Money Market & CD’s — 601 — 601 $ — $ 7,316 $ — $ 7,316
Schedule of Bond Maturities	Net Carrying Fair Amount Value Due in 1 year or less $ 3,867 $ 3,865 Due in 2 to 5 years 2,401 2,392 Greater than 5 years 330 313 $ 6,598 $ 6,570
Schedule of Investments Held to Maturity	Amortized Unrealized Unrealized Cost Gains Losses Fair Value March 31, 2024: Corporate Bonds - Held to Maturity $ $ $ (49 ) $ Fixed Income Funds - Available for Sale 727 — (36 ) 691 Money Market & CD’s 128 — — 128 $ $ $ (85 ) $ 7,389 December 31, 2023: Corporate Bonds - Held to Maturity $ $ $ (50 ) $ Fixed Income Funds - Available for Sale 718 — (33 ) 685 Money Market & CD’s 601 — — 601 $ $ $ (83 ) $ 7,316
Schedule of Unrealized Loss on Investments	Less than 12 Months More than 12 Months Unrealized Unrealized March 31, 2024: Fair Value Losses Fair Value Losses Corporate Bonds - Held to Maturity $ $ (12 ) $ $ (37 ) Fixed Income Funds — — 488 (36 ) $ 1,960 $ (12 ) $ 1,561 $ (73 ) December 31, 2023: Corporate Bonds - Held to Maturity $ $ (18 ) $   $ (32 ) Fixed Income Funds 201 (1 ) 484 (32 ) $ 1,238 $ (19 ) $ 1,917 $ (64 )

EXPENSES (Details Narrative)

EXPENSES (Details Narrative)	3 Months Ended
	Mar. 31, 2024 USD ($) Installment
Other Income and Expenses [Abstract]
Annual Contractual Payments to Cargill to Arrange for Delivery of The Corn and Other Agency Services | $	$ 60,000
Number Of Installments | Installment	4
Service Contract Maturity Date	Dec. 31, 2026

Schedule of Financial Informati

Schedule of Financial Information for ProGold LLC (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Current Assets	$ 197	$ 209	$ 201
Long-Term Assets	33,201	35,840	33,945
Total Assets	33,398	36,049	34,146
Current Liabilities	45	29
Total Liabilities	45	29	0
Members’ Equity	33,353	36,020	34,146
Total Liabilities and Members’ Equity	33,398	36,049	34,146
Rent Revenue on Operating Lease	3,952	3,953	15,810
Expenses	766	743	3,641
Net Income	$ 3,186	$ 3,210	$ 12,169

PROGOLD LIMITED LIABILITY COM_3

PROGOLD LIMITED LIABILITY COMPANY (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Long-Term Liabilities		$ 0
Cooperative
Equity Method Investment, Ownership Percentage Prior to Acquisition	49%
Equity Method Investment,Ownership Percentage After Acquisition	50%
Percentage of Ownership Acquired	1%
American Crystal Sugar Company
Equity Method Investment, Ownership Percentage Prior to Acquisition	51%
Equity Method Investment,Ownership Percentage After Acquisition	0%
Cargill
Equity Method Investment,Ownership Percentage After Acquisition	50%
Equity Method Investment, Ownership Percentage Prior to Acquisition	0%

Schedule of Fair Value of Inves

Schedule of Fair Value of Investments Held to Maturity Based on Level 2 Inputs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Fair Value	$ 7,389	$ 7,316
Corporate Bond Securities [Member]
Schedule of Investments [Line Items]
Fair Value	6,570	6,030
Fixed Income Funds [Member]
Schedule of Investments [Line Items]
Fair Value	691	685
Money Market Funds [Member]
Schedule of Investments [Line Items]
Fair Value	128	601
Fair Value, Inputs, Level 2 [Member]
Schedule of Investments [Line Items]
Fair Value	7,389	7,316
Fair Value, Inputs, Level 2 [Member] | Corporate Bond Securities [Member]
Schedule of Investments [Line Items]
Fair Value	6,570	6,030
Fair Value, Inputs, Level 2 [Member] | Fixed Income Funds [Member]
Schedule of Investments [Line Items]
Fair Value	691	685
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Schedule of Investments [Line Items]
Fair Value	$ 128	$ 601

Schedule of Bond Maturities (De

Schedule of Bond Maturities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity [Abstract]
Due in 1 year or less	$ 3,867
Due in 2 to 5 years	2,401
Due in 6 to 10 years	330
Total	6,598
Debt Securities, Held-to-Maturity, Fair Value, Maturity [Abstract]
Due in 1 year or less	3,865
Due in 2 to 5 years	2,392
Due in 6 to 10 years	313
Total	$ 6,570

Schedule of Investments Held to

Schedule of Investments Held to Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Amortized Cost	$ 7,453	$ 7,369
Unrealized Gains	21	30
Unrealized Losses	(85)	(83)
Fair Value	7,389	7,316
Corporate Bond Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost	6,598	6,050
Unrealized Gains	21	30
Unrealized Losses	(49)	(50)
Fair Value	6,570	6,030
Fixed Income Funds [Member]
Schedule of Investments [Line Items]
Amortized Cost	727	718
Unrealized Losses	(36)	(33)
Fair Value	691	685
Money Market Funds [Member]
Schedule of Investments [Line Items]
Amortized Cost	128	601
Fair Value	$ 128	$ 601

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Fair Value, Less than 12 Months	$ 1,960	$ 1,238
Unrealized Loss, Less than 12 Months	(12)	(19)
Fair Value,More than 12 Months	1,561	1,917
Unrealized Loss, More than 12 Months	(73)	(64)
Corporate Bond Securities [Member]
Schedule of Investments [Line Items]
Fair Value, Less than 12 Months	1,960	1,037
Unrealized Loss, Less than 12 Months	(12)	(18)
Fair Value,More than 12 Months	1,073	1,433
Unrealized Loss, More than 12 Months	(37)	(32)
Fixed Income Funds [Member]
Schedule of Investments [Line Items]
Fair Value, Less than 12 Months		201
Unrealized Loss, Less than 12 Months		(1)
Fair Value,More than 12 Months	488	484
Unrealized Loss, More than 12 Months	$ (36)	$ (32)

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined Benefit Plan, Plan Assets, Payment for Settlement	$ 625,000
Defined Benefit Plan, Plan Assets, Amount		$ 694,000	$ 704,000
Defined Benefit Plan, Benefit Obligation		$ 680,000	$ 636,000

REVENUE RECOGNITION (Details Na

REVENUE RECOGNITION (Details Narrative)	3 Months Ended
	Mar. 31, 2024 USD ($) Installment bu $ / bu	Mar. 31, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Annual Delivery of Bushels of Corn | bu	15,490,480
Annual Cooperative Fee for Corn Delivery	$ 60,000
Number Of Installments | Installment	4
Incentive Payment Per Bushel To Members On Delivery Of Corn Under Method A | $ / bu	0.05
Agency Fee Per Bushel for Corn Delivered Using Method B | $ / bu	0.02
Revenues	$ 18,143,000	$ 31,283,000
Method A
Disaggregation of Revenue [Line Items]
Revenues	6,500,000	12,800,000
Method B
Disaggregation of Revenue [Line Items]
Revenues	$ 11,600,000	$ 18,500,000

DISTRIBUTIONS TO MEMBERS (Detai

DISTRIBUTIONS TO MEMBERS (Details Narrative) - USD ($)	Feb. 27, 2024	Feb. 24, 2023
Equity [Abstract]
Distributions to Members	$ 2,788,286	$ 2,478,477
Distribution To Members Per Outstanding Membership Unit	$ 0.18	$ 0.16

LINE OF CREDIT (Details Narrati

LINE OF CREDIT (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000,000
Line of Credit Interest Rate Equals Prime Minus 0.50%	0.50%
Line of Credit Facility, Interest Rate During Period	8%
Long-Term Line of Credit	$ 0	$ 0

COMMITMENTS AND CONTINGENCIE (D

COMMITMENTS AND CONTINGENCIE (Details Narrative)	3 Months Ended
	Mar. 31, 2024 USD ($) Installment
Commitments and Contingencies Disclosure [Abstract]
Annual Contractual Payments to Cargill to Arrange for Delivery of The Corn and Other Agency Services | $	$ 60,000
Number Of Installments | Installment	4
Significant Supply Contracts Termination	The agreements between Cargill and the Cooperative terminate concurrently with Cargill’s Second Amended and Restated Facility Lease with ProGold LLC, as amended, which terminates on December 31, 2026.