This report presents information for 1983 through 1991 on the physical and financial structure adjustments made by local first- handlers-of-grain cooperatives in the Corn Belt. They had annual total sales of at least $5 million, more than half in grain. Most associations also handled farm supplies and all provided related services. Local cooperative grain handlers were faced with abrupt changes in export markets for grains and oilseeds, shifts in Government policy, and occasional drought, accompanied by wide swings in grain prices. Most associations represented in this report adjusted successfully to changing economic conditions through sound financial management of particularly long-term debt and operating capital. Most even improved their economic position, with substantial assistance in the latter half of the period from their regional cooperatives.
