Grain Policy

Cedar County CO-OP Grain Policies                       September 2022

Sampling:

               You may wait for the sample to be tested prior to dumping. If the hauler is not satisfied with the grade, a second sample will be taken. However, the grade obtained on the last sample will be used for settlement purposes. The seller has the option of requesting official grades by a federal grain inspector on any contested samples. The seller shall stand the cost of such grades and these grades will be final.

               We will retain all samples when grades are contested for 10 days.

Delivery Information:

  1. Information- The hauler needs to give accurate, complete information to the scale operator. The owner’s name, split percentage if multiple owners, and the disposition of the grain, also notify us when the last load is delivered so the settlement can be made promptly.
  2. Open Storage- Grain delivered in January through September must be priced within 30 days or by October 1st, whichever comes first. Grain delivered after October 1st will have maximum of 5 calendar days in open storage. If no instructions are received on the disposition of the grain by the last day of open storage, the grain will be sold.
  3. We reserve the right to refuse corn in excess of 25% moisture.

Purchase Agreement:

               Grain purchase contracts are written for the exact net (dry) bushels. Any over delivery will be purchased at the time of settlement. Any under delivery will settle at the difference between the contract prices and the market price at the time of settlement.

Credit Sales Agreements:

               Deferred payments, basis, price later, and minimum price contracts. All grain settlements that involve credit sales contracts MUST BE SIGNED PRIOR TO SETTLEMENT.

Moisture Levels:

               Corn is purchased at 15% moisture. Corn for storage must be no more than 14%. Corn above these levels will be dried and have shrink taken to the required moisture.

               Soybeans will be purchased and stored at 13% moisture or below.

Corn Drying Charges:

               Drying charge is 4 cents per point of moisture removed for any grain at less than 24% moisture and 6 cents per point of moisture removed for anything above 24% moisture, with a 1.4% shrink factor figured to the nearest 1/10%. Drying charges are computed from wet bushels.

Custom Drying:

               A 3 cent handling charge will be assessed for custom drying of corn under 18%. There is no handling charge for corn over 18%. Corn must be removed from the elevator within 5 days.

Soybean Drying Charges:

               All beans will be stored at 13% moisture or below. Beans for storage in excess of 13% moisture will be shrunk at the rate of 1% for each ½% of moisture or faction thereof over 13%.

Test Weight Upgrading:

               Low test weight corn or soybean may be upgraded and discounts billed when a warehouse receipt is written.

Storage Rates:

               Corn                                     0.134 cents per bushel per day

                                                            17 cents minimum for first 90 days

              

               Soybeans                            0.167 cents per bushel per day

                                                            20 cents minimum for first 90 days

 

               Grain Bank                         6 cents per bushel IN CHARGE. Storage will be

                                                            2 cents per bushel per month or fraction thereof after 6 months.

                                                            Grain sold out of grain bank will revert to regular storage charges.

              

Warehouse Receipt:        Minimum storage billed when warehouse receipt is issued.               

Balance of storage deducted at the time of settlement. Co-op will provide a

release to CCC so that storage on sealed grain need not be prepaid.