Glacial Plains Cooperative - Harvest Policy
Effective September 12, 2016
Subject to Change Without Notice
2016 Price Later Program - Corn and Soybeans
- Corn service charges are 4 cents per month (pro-rated). NO minimum will apply.
- Soybean service charges will be a 20 cent flat fee that will cover storage until October 19th, 2017.
- Un-priced grain must be priced by October 19th, 2017. If not, it will be priced automatically, without further notice, on the market open of October 20th, 2017.
- On Price later corn, title has passed to Glacial Plains. These bushels cannot be transferred to fulfill CVEC deliveries or purchase contracts.
- Cash or contracted corn will be shrunk and dried to 15.0% moisture. Price Later, warehouse receipts or grain bank will be shrunk and dried to 14.0% moisture. Condo storage will be shrunk and dried to 14.5% moisture.
- Drying charges will be 4.0 cents each point of moisture over tolerance. A ONE POINT MINIMUM WILL APPLY. Shrink is 1.5% each point of moisture over tolerance. (Drying and shrink will both be pro-rated by each 1/10th point after the one point minimum is accounted for if applicable) Individual grade factors will not be averaged.
- No early delivery of CVEC bushels or deferred purchase contracts.
- Wet corn intended for re-delivery to CVEC must be dumped in West Benson.
- All soybeans will be shrunk to 13.0% moisture.
- All soybeans will have an automatic 1/4% (.0025) Foreign Material deduction.
- Drying charges will be a straight shrink of 3.0% each point over 13.0% to 15% moisture, and 4% each point over 15% moisture. (pro-rated by each 1/10th point). No monetary charges will apply.
- Foreign material over 1.0% will be deducted from gross weight and will not be averaged.
- Each producer is responsible to inform the scale operator who the grain is for, the disposition of the grain (sell, contract, price later, etc.) and when delivery is complete.
- Grain bank grain inventories will be inventoried as standard grade grain. Applicable discounts will be assessed to off-grade grain to bring it up to standard. No service charge will apply if used within a six-month period. All grain bank bushels will be evaluated on Oct. 1st, 2017 and all bushels older than the 6 month limit will be priced out on October 20th, 2017 and charged storage at the prevailing rate back to the date it was delivered.
- Grain that is exceptionally off-grade, wet or heating may be rejected.
- In store grain will be bid and discounted based on the delivery elevator's bid and discount schedule the day it is sold. Price later grain or stored grain cannot apply to future purchase contracts.
Have a safe harvest.