| When rumors fly about Holly Sugar everyone pays
attention. The rumor mill has been running overtime the past
year. The latest was the the unfounded notion that Imperial
Holly Corporation President Roger W. Hill was cut loose by the
companys new board of directors. Chief agriculturalist at
the Sidney Holly Sugar Plant Russ Fullmer said, Weve
been getting a lot of calls, but there is nothing to it, and I
dont know where it came from.
Imperial Sugar filed for Chapter 11 bankruptcy in January
2001 and issued a press release Aug. 8 to declare the companys
emergence from Chapter 11 proceedings and, with court
approval, they expect to finalize the reorganization plan by
the end of August.
The companys bondholders, senior secured lenders, other
creditors and shareholders voted overwhelmingly in favor of
the reorganization plan.
Fullmer said, It looks good. The final payment on last
years crop should fall right into place when the contract
calls for it. The final payment is due Oct. 31.
Meanwhile, this years sugarbeet crop appears fairly
good. The second root sample taken Aug. 6 yielded some
information to the Holly Sugar Agricultural Department.
It indicated 10 tons an acre growth for the month, which
is good but we got off to a slow start and are still a little
below normal, said Fullmer. We can never really catch up
on tonnage.
Generally, the agricultural staff doesnt try to predict
a crops quality but Fullmer added, The nitrate level was
a little higher than we like to see it. Higher nitrate
levels indicated lower sugar, but Fullmer is quick to point
out that there is a lot of the growing season ahead.
A combination of factors could contribute to keep the sugar
levels down at this point in the season. Some of the sample
beets may still be immature and building their root system.
Others may have been affected by spraying programs intended to
control cercospora. Growers are doing a good job monitoring
the yield-robbing disease but the humid conditions recently
are conducive to the spread of cercospora. Fullmer reminds
growers to remain vigilant and spray as needed. Another
concern bearing attention is the low water level of the
Yellowstone River. Though the Lower Yellowstone Irrigation
Project should have adequate levels, some fields rely on pumps
bringing water directly from the river and with the river at
such low levels those pumps may be left high and dry.
The June and July rains saved us. The water has to come
from somewhere, Fullmer said.
Harvest dates will be set next week after a consultation
meeting between the Holly Sugar Ag Department and the Growers
Board Monday night. |