Monday, December 11, 2017  
 
  Grain Policy Text  10/10/17 10:47:59 AM Printer Friendly VersionPrinter Friendly Version

County Line Grain Co
526 State Highway 22
Minnesota Lake, Minnesota 56068
Phone: 507-462-3511


 

 
2017/2018 GRAIN POLICY
 EFFECTIVE DATE:09/01/2017
FARMERS INTENTION UPON DELIVERY
The producer must declare at the scale whether his/her grain is to be Sold, placed on Price Later, Warehouse Receipt, or Contracted. County Line Grain Co of Minnesota Lake will receive all grain as if it is a GMO variety.  At the time of settlement you will receive the price for the value of GMO grain only. If the producer fails to inform the scale operator, the grain will be posted to Open Storage that day and he/she will have 10 days to make a choice. If no choice is made by then it will automatically go on Price Later and service charges will be accessed according to our policy.
If there are contracts for the current delivery period the first grain brought in will be applied to the oldest contract. You will not be allowed to put grain on storage first and fill contracts later.
 
CORN POLICY
PRICE LATER (DP) PROGRAM
 
Price Later (DP): New Crop Corn, Price Later (DP) service charges are .001315 cents per bushel per day with a minimum of 120 days or .15781 cents and will start to accrue the date of delivery if delivered before 8-1-2017
 
All 2016 Price Later Corn must be priced by October 31, 2017.
All 2017 Price Later Corn must be priced by October 31, 2018.
• Ownership of Corn passes to Elevator at time Price Later contract is signed.
• Price Later grain cannot be put on warehouse receipt at a later date.
• All Price Later service charges will be due at time of settlement.
• Loan grain is not eligible for price later contract, however County Line Grain reserves the right to invoice annually.
• Price Later grain bids may be different than elevator delivered bids for deferred periods.
 
Free Price Later (DP):  Old Crop Corn, 2016 or before production can be delivered under Free Price Later up to September 1, 2017  but if not priced by October 31, 2017 same service charges will apply starting that date as if they were New Crop Corn.
 
Warehouse Receipts and Open Storage Agreements on Corn
Charges are .001315 cents per day starting from date of delivery with a minimum of 120 days or .15781 cents. Corn being sealed must have storage paid in advance according to loan maturity.  Agreement must be signed to pay in and out charges should depositor elect to reclaim warehouse receipted corn.
   
SOYBEAN POLICY
 
PRICE LATER (DP) PROGRAM
 
Price Later (DP): New Crop Soybeans,  Starting  August 1,  2017, Price Later (DP) service charges are .001315 cents per bushel per day with a minimum of 120 days or .15781 Cents, the same as last year and will start to accrue the date of delivery, but may not be delivered before August 1, 2017.
 
All 2016 Price Later Soybeans must be priced by September 30, 2017, unless delivered after September 15, 2016 at which time it must be priced by September 30, 2017.
All 2016 Price Later Soybeans must be priced by September 30, 2017, unless delivered after September 15, 2017 at which time it must be priced by September 30, 2018.
• Ownership of grain passes to Elevator at time Price Later contract is signed.
• Price Later Soybeans cannot be put on warehouse receipt at a later date.
• All Price Later service charges will be due at time of settlement, however County Line Grain reserves the right to invoice annually.
• Loan grain is not eligible for a price later contract.
• Price Later grain bids may be different than elevator delivered bids for deferred periods.
 
Free Price Later (DP):  Old Crop Soybeans, 2016 or before production can be delivered under Free Price Later up to September 1, 2017 but if not priced by September 30, 2017 same service charges will apply, starting that date, as if they were New Crop Soybeans.
 
Warehouse Receipts and Open Storage Agreements on Soybeans
Charges are .001315 cents per day starting from date of delivery with a minimum of 120 days or .15781 cents. Soybeans being sealed must have storage paid in advance according to loan maturity.   Agreement must be signed to pay in and out charges should depositor elect to reclaim warehouse receipted soybeans.
 
Governing Law and Arbitration Rules
This policy, all grain agreements and contracts shall be governed by Minnesota law. Buyer and Seller agree that all disputes arising out of or relating to policy, agreement or contracts shall be settled by arbitration in accordance with the rules and regulations of the National Grain and Feed Association pursuant to such Association's grain arbitration rules. Buyer and Seller agree that judgment may be entered upon any arbitration award in any court of competent jurisdiction. Written notice to Buyer shall be by personal delivery or by postage paid letter addressed to Buyer as written above to the attention of the General Manager.
 
DEFERRED PAYMENT CONTRACTS
Corn and Soybeans
We will be offering deferred payment contracts for those wishing to defer income. 
 
 
CUSTOM CORN DRYING
Our company will be doing custom corn drying with normal dry and shrink discounts. Corn must be redelivered within 10 days of deposit or Price Later service charges will apply.
 
2016 PRICE LATER CONTRACTS
Contracts will be rolled forward to our new program. This must be done with a new contract signed by October 30, 2017 for corn and September 30, 2017 for soybeans.
 
GRAIN MERCHANDISING HOURS
Due to the volatility of the CBOT our company will buy and sell grain only during the days the CBOT is trading and also only during the hours of 9:00 AM to 1:45 PM.  All other grain purchases must be cleared through company owner before purchase or sale is final.
 







County Line Grain Co
526 State Highway 22
Minnesota Lake, MN 56068
Phone: 507-462-3511

 
 

 
 
SCALE OF DISCOUNTS FOR SOYBEANS
 
EFFECTIVE DATE 07-01-2016
T.W.:               2 Cents Ea. 1 lb. 53.9 to 52.0
                        3 Cents Ea. 1 lb. 51.9 to 50.0
                        4 Cents Ea. 1 lb. 49.9 and below
 
DMG:              6 Cents Ea. ½% from 2.1% to 2.5%
                        Additional 2 Cents Ea. ½% 2.6% to 5.5%
                        Additional 4 Cents Ea. ½% 5.6 and up.
                        At 5.5% and above may be subject for rejection
                        by the elevator.
 
MST:               1% Dock of wt. For each ½ % Mst. 13% Up to 14.0% Mst.
                        2% Dock of wt. For each ½ % Mst. From 14.1% and above.
                        No loads Averaged.
 
F.M.:                1% Allowable
                        each 1/10% above 1% will be docked from the total.
 
SOUR:             10 Cents Chg.
MUSTY:          10 Cents Chg.
SPLIT:             2.5 Cents Chg. Each 1% above 20%
COFO:            20 Cents Chg.
 
ACCEPTABLE MOISTURE’S FOR
Cash Deliveries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13% Allowable
All Delayed Pricing Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13% Allowable
Warehouse Receipts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13% Allowable
 





 


County Line Grain Co
526 State Highway 22
Minnesota Lake, MN 56068
Phone: 507-462-3511

 
 

 
 
 
SCALE OF DISCOUNTS FOR CORN
 
EFFECTIVE DATE   07-01-2016
T.W.:                1 Cents Ea. ½ lb. 53.9 to 52.0
                        1 ½ Cents Ea. ½ lb. 51.9 to 50.0
                        2 Cents Ea. ½ lb. 49.9 and under
 
DMG.:              2 Cents Ea. 1% 5.1% to 7%
                        3 Cents Ea. 1% 7.1% to 10%
                        4 Cents Ea. 1% 10% and above
                        at 50% and above may be subject for rejection
 
MST.:             1.4% Shrink per Ea. 1% of Mst. and 2 1/4 Cents Ea. ½ %  of Mst. In Drying Season, with no average, dried to storage preference (see below).
                       1.4% (shrink only) Ea. 1% Mst. Out of Drying Season up to 16.5% Mst. and And all loads averaged.
                       Mst. 16.6% and above discounted by the load, plus (normal in season drying chgs.) to storage preference (see below)
                       
F.M.:                2 Cents Ea. 1% - 3.1% to 4%
                        3 Cents Ea. 1% - 4.1% to 5%
                        4 Cents Ea. 1% - 5.1% and above
 
HT. DMG.:       2 Cents Ea. .1% from .3% to .5%                                                                     
                         4 Cents Ea. .1% from .6% to 1.0% then subject to rejection
 
SOUR:             7 Cents Chg.
MUSTY:          7 Cents Chg.
BUGGY:          7 Cents Chg.
COFO:           14 Cents Chg.
                       
ACCEPTABLE MOISTURE’S FOR
Cash Deliveries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15% Allowable            
All Delayed Pricing Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15% Allowable
Warehouse Receipts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14% Allowable
 
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