2009 – 2010 GRAIN POLICIES**
FARMERS COOPERATIVE CO./ FLOYD VALLEY GRAIN LLC
HINTON-OYENS-AKRON-LE MARS
(Revised as of September 20, 2009)
1. Be sure that all grain delivered is properly identified as to disposition and ownership. The grain will be settled the same as noted on the scale tickets. Be sure all information is given to the scale attendant at the time of delivery. Be sure that the scale attendant is notified at the time of any name changes.
2. The person delivering the grain, regardless of who owns the grain, accepts the grade for the owner, if the grain is dumped. If questions on the grade- stop in right away to ask.
3. Deliveries will be accumulated in14-day periods from the first delivery day. After 14 days, a new delivery period begins. Each 14-day delivery accumulation must be settled on the 14th day or the grain will be stored on warehouse receipt or placed in open storage, with warehouse receipt/open storage charges to apply. Please be timely on the disposition of your grain, because all grain not settled after the 14-day delivery period will be considered to have been delivered for storage.
4. Warehouse Receipt: minimum 16 cents per bushel for the first 90 days, or any part thereof; and 3 cents per month prorated thereafter. (The 16 cents per bushel will be invoiced on the day of issue of the receipt. These charges are net due by the 15th of the following month. Unpaid balances will accrue finance charges.) Stored Corn will be dried and shrunk to 14%.
Grain Bank: Bushels delivered for grain bank will be assessed no fees for the first 30 days, with a flat fee of 3 cents per bushel per month thereafter. Grain bank corn will be dried and shrunk to 14%. The quantity allowed for grain bank canot exceed normal usage of the producer for that crop year. If corn is in grain bank longer than the designated year – it will be sold.
Price Later Contracts are available for both corn and soybeans. Ownership of this grain transfers to Floyd Valley Grain, LLC, with pricing to be established at a later date. Service charges are assessed at the rate of a minimum 14 cents per bushel for the first 90 days, or any part thereof; and 3 cents per month prorated thereafter. (The 14 cents per bushel will be invoiced on the day of issue of the price later contract. These charges are net due by the 15th of the following month. Unpaid balances will accrue finance charges.) Corn will be dried and shrunk to 15%. Price later corn can only be priced for current month only- not the deferred months.
5. Grain checks are available upon demand. However, be advised, there could be short waits, due to volume, during harvest.
6. Grain payments may be deferred on a Deferred Pay Contract. These checks will be issued January 5, 2010.
**ALL POLICIES ARE SUBJECT TO CHANGE, AT THE DISCRETION OF THE MANAGEMENT.