Farmers Cooperative Elevator Company
2009 Fall Policies and Discount Schedule
Policies and discount schedules are subject to change anytime without notice or warning. We will not call producers before making changes.
Grain can be sold only during market hours 9:30 AM to 1:10 PM.
When marketing bushels please specify the exact quantity of bushels you wish to sell (Not everything in elevator)
Please have your customer number sign available in the truck/tractor window when pulling up to the scale so we can properly identify to whom the grain belongs. Please look at the scale ticket to make sure it is correct in both the owner of the grain and for customer splits. If you have any new splits that need to be added before harvest please let us know as soon as possible. Please check your scale ticket for accuracy after dumping your grain.
Grain dumped will go into the delivery position. You will have 5 days to decide if you are going to apply the grain to a contract, sell or price later. All grain will be applied to the oldest contract first. On the 6th day storage charges will start accruing from the date of original delivery (.001334 cent per day) or approximately 4 cents a month. If no decision on the bushels has been made by the 10th day bushels will be moved to price later storage and the minimum storage charge for price later contract will apply from the original date of delivery. We will not call you before moving grain to the price later position.
All grain contracts must be signed and returned within 5 day’s of issue.
Grain checks will not be issued without instruction for payment to be made and are not automatically printed. You must request a check to be made. Be advised of possible delays due to increased volume at harvest, checks will be issued in the order they are requested as soon as reasonably possible.
Deferred Pay Contracts will be paid a premium from the day of contract to December 31, 2009. Checks will be available for pick up after 8:30 AM on January 5, 2010. No interest will be paid.
Grain Bank has a limit on bushels that can be placed in grain bank. Please check with the feed mill manager Larry Bork on availability (605-763-2477).
CORN
* No averaging of loads, each load stands on its own
* Corn will be dried to 15% for selling and price later
* Corn will be dried to 14% for warehouse receipt and grain bank
Drying 4.75 cents per bushel per point of moisture over 15% to the nearest .10 point
- there is no moisture averaging
- drying is charged on shrunk bushels
- drying is subject to change with changes in natural gas prices
Shrink 1.50% per point of moisture over 15%
Damage - 2 cents each percent from 5 up to 10
- 3 cents each percent from 10 to 15
- 5 cents each percent from 15 and up
*Over 15% is subject to rejection
Foreign Material - 3 cents each percent from 3 to 4
- 4 cents each percent over 4
Test Weight - 2 cents each pound from 50 to 54
- 4 cents each pound from 46 to 50
(Test weight discount from 54 pounds to 50 pounds restablished January 1, 2010)
Heat- 10 cents per bushel
Sour- 10 cents per bushel
Musty -Weevily -7 cents per bushel
SOYBEANS
* No averaging of loads, each load stands on its own
* Vistive Soybeans see below
Test Weight -1 cent each pound from 52 to 54
-2 cents each pound from 50 to 52
-4 cents each pound from 49 to 50
*Under 49 pounds is subject to rejection
Moisture -13.1 to 13.5% - 1.5% of cash price per bushel
-13.6 to 14.0% - 3.0% of cash price per bushel
-14.1 to 14.5% - 4.5% of cash price per bushel
-14.6 to 15.0% - 6.0% of cash price per bushel
-15.1 to 15.5% - 7.5% of cash price per bushel
-15.6 to 16.0% - 9.0% of cash price per bushel
*Over 15% moisture is subject to rejection based on space availability
Damage -2.00 to 2.50% 3 cents per bushel
-2.50 to 5.50% 1 cent each 1/2 %
-5.50 to 8.00% 2 cents each 1/2 %
*Over 8% damage is subject to rejection
Heat -.3 to .5% 2 cents: and 2 cents every half percent up to 5 percent
*Over 5% heat damage subject to rejection
Splits 1 cent per bushel each 5% above 20%
*Over 40% splits is subject to rejection
Foreign material- All foreign material over 1% expressed to the nearest tenth of a percent will be deducted from gross weight
Green beans- subject to special discounts or rejection
Treated soybeans- not acceptable
Other discounts 10 cents per bushel for sour and/or musty, heating, COFO notations, sticks, stones, dirt or distinctly low quality soybeans. Sample grade soybeans will be subject to rejection or additional discount at our discretion.
Vistive Soybeans FCE IS ACCEPTING VISTIVE SOYBEANS UP TO 13.5 MOISTURE STARTING 10/26/09
-Vistive soybeans must be delivered to FCE by June 30, 2010
-Please have a sign in your truck/tractor showing the beans as Vistive
-Over 13% moisture is subject to rejection as Vistive and may be dumped as regular commodity soybeans based on space availability
-FCE Beresford Vistive policy is aligned with Cargill Sioux City and may change at anytime without notice
GRAIN STORAGE POLICY FOR CORN AND SOYBEANS
Price Later 19 cents minimum charge for 90 days then approximately 4 cents per bushel per month or .001334 of a cent per day
-corn will be dried to 15% moisture
-Price Later corn and beans cannot be put on a warehouse receipt or grain bank once it is placed into a Price Later contract
-If Price Later bushels are contracted for future delivery, those bushels will be charged storage cost until the first day of that contract date as well as the minimum 19
cents for the first 90 days
-Price later bushels must be priced by 12:45 PM on July 30th 2010
-If not priced by 12:45 PM on July 30th 2010, FCE will price the bushels at market price at 1:00 PM on July 30th 2010 without prior notice
to the producer
-Price later bushels may not be taken out of elevator
Warehouse Receipt (sealed grain only) (for both corn and soybeans)
-Storage must be prepaid for at least a 9 month period with a 10 cent minimum required, balance will be refunded once warehouse receipt is brought to FCE. Please
contact us to allow time to prepare paperwork on grain sealing.
-Corn is dried down to 14% moisture for warehouse receipt
AFLATOXIN-FCE reserves the right to test for aflatoxin at any time without warning
-FCE will offer aflatoxin testing at a cost of $10.00 per sample
-FCE aflatoxin test is not an official test so we will not be held responsible for any errors or discrepancies.
-If aflatoxin testing results in more than 20 p.p.b., FCE reserves the right to dock based on our posted dockage schedule
GRAIN BANK POLICIES
*Corn will be dried to 14%
*Shrink and drying charges are the same as warehouse stored grain
*The purpose of grain bank is to have grain processed and go out with protein and supplements for the producer who brought that grain into grain bank.
Grain Bank Storage Charges
-Corn taken out of grain bank or sold with no supplements in the feed will revert back to normal warehouse storage charges of approximately 4
cents a month or .001334 a day from original delivery date. In addition any grain bank corn physically removed from the elevator without
supplements or grinding/rolling will be charged an in/out fee of 15 cents.
-Any grain bank accounts that have had no withdrawals within a 6 month period will be charged storage at the rate of 4 cents a month per
bushel per month from the last grain bank withdrawal and the grain will be sold at market close on the day that falls 6 months and one day after
the last withdrawal. FCE will not notify you prior to the sale of grain bank bushels over 6 months with no withdrawals.
(SUBJECT TO CHANGE WITHOUT NOTICE OR WARNING)
Revised 04/23/10 at 8:00 A:M
