2016/2017 Grain Policy

Grain Deliveries:  Producer must declare at the scale whether grain is CONTRACTED, TO BE SOLD, WAREHOUSE RECEIPTED OR TO BE PLACED ON PRICE LATER. If producer does not inform scale operator the grain shall be placed on OPEN STORAGE that day and will have 15 days to make a choice. If no choice is made the grain shall be placed on PRICE LATER and applicable service charges will be applied according to policy.
Deliveries will be applied to existing contracts first before any grain is put on storage.

CORN POLICY:

New Crop Price later (DP) service charges are .001315 cents per bushel per day with a minimum charge of 120 days or .1578 cents and will start to accrue the date of deliver.   All 2017 Price Later Corn must be priced by September 15, 2018.
Old Crop Free Price later: Beginning 4/1/17 Old crop corn 2016  can be delivered under Free Price Later until September 1, 2017 but if not priced by October 31, 2017 same sevice charges will be applied starting that date as if it was New Crop corn.


Ownership of grain passes to the ELEVATOR at time Price Later contract is made.
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.
Price later grain bids may be different than elevator delivered bids for deferred periods.


SOYBEAN POLICY:

New Crop Price Later (DP) service charges are .001315 cents per bushel per day with a minimum charge of 120 days or .1578 cents and will start to accrue the date of delivery.  All 2017 Price Later Soybeans must be priced by September 1, 2018.
Old Crop Free Price later: Beginning 4/1/17 Old crop beans 2016  can be delivered under Free Price Later until  September 1, 2017 but if not priced by September 15, 2017 they will be placed on New crop Price Later and New crop service charges applied.

Ownership of grain passes to the ELEVATOR at time Price Later contract is made.
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 a price later contract.
Price later grain bids may be different than elevator delivered dids for deferred periods.


WAREHOUSE RECEIPTS AND OPEN STORAGE AGREEMENTS ON CORN AND SOYBEANS:
Charges are .0013151 cents per day starting from date of delivery with a minimum of 120 days or .15781 cents. Sealed corn and soybeans must have storage charges paid in advance according to loan maturity. Agreement must be signed to pay in and out charges should depositor choose to reclaim warehouse receipted corn or soybeans.

GOVERNING LAW AND ARBITRATION RULES:
Buyer and Seller agree that all disputes related to policy, agreement or contracts shall be settled by arbitration in accordance with the rules and regulations of the National Grain and Feed Association.

GRAIN MERCHANDISING HOURS:
Due to market volitility Waldorf Ag & Grain will buy and sell grain only during the days the CBOT is trading and also only during the hours of 8:30 am to 1:15 pm.

DEFERRED PAYMENT CONTRACTS:
Deferred payment contracts are available for those wishing to defer income. Once payment is deferred it cannot be changed to receive payment earlier than the agreed upon date on the contract.

CORN SCALE OF DISCOUNTS:

TW:  1 cent ea 1/2 lb. 53.9-52.0
         1.5 cents ea 1/2 lb. 51.9-50.0
         2 cents ea 1/2 lb. 49.9 and below.

MST:  1.4% shrink ea. 1% over 15.0  (14.0 FOR WHSE REC)
           Drying charge  2.25 cents ea .5 over 15.0  (14.0 WHSE REC)

DMG: 2 CENTS EA 1% 5.1-7.0%
           3 CENTS EA 1% 7.1-10.0%
           4 CENTS EA 1% 10% AND ABOVE.

BCFM: 2 CENTS EA 1% 3.1-4.0%
             3 CENTS EA 1% 4.1-5.0%
             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:  10 CENTS BU.
MUSTY:  10 CENTS BU.
INFESTED:  10 CENTS BU.
COFO:  15 CENTS BU

ALL SAMPLE GRADE SUBJECT TO REJECTION


SOYBEAN SCALE OF DISCOUNTS:

TW:     2 CENTS EA LB. 53.9-52.0
            3 CENTS EA LB. 51.9-50.0
            4 CENTS EA LB. 49.9 AND BELOW

MST:      1.5% dock of wt. ea 1/2 % mst. 13.1% to 15% mst.
               3% dock of wt. ea 1/2 % mst. 15.1% to 16% mst.
               3.5% dock of wt. ea 1/2% mst 16.1% and above.

DMG:     6 cents ea 1/2 % 2.1-2.5%
               additional 2 cents ea 1/2  2.6-5.5%
               additional 4 cents ea 1/2  5.6% and above

FM:       1.0% allowed
             ea .1% above 1.0 will be docked from the total.

SOUR:    10 cents
MUSTY:  10 cents
SPLITS:  2.5 cents ea 1.0% over 20.0%
COFO:     20 cents

ALL SAMPLE GRADE SUBJECT TO REJECTION



 
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