RICKETT GRAIN CO.
Following are
policies that will apply to corn and soybeans delivered to our elevators at
It is your responsibility to notify the person at the scale how
you want to apply your grain: storage, contract, spot sale or price
later. We also need to know how it is to be split if multiple customers
are involved. Please also notify us when you have delivered the last load
for a particular settlement sheet. Since we take grain samples in the driveway,
your driver must communicate who owns the grain with the person in the driveway
also.
CORN: Moisture Discount schedules below
Storage
charges will be 16 cents a bushel minimum until February 1, 2012. After February
1, 2012, storage charges will be 3 cents per bushel for each month/calculated
daily. Corn that Warehouse Receipts or Price Later Contracts are issued on or
that is placed in open storage will be dried to 14% moisture, all other to 15%. A shrink
factor of 1.4% for each 1% of moisture removed will be applied.
Grades
on corn will be averaged daily.
All
corn purchase contracts delivered to
Our
drying rate will be established at time of delivery.
SOYBEANS:
Storage
charges will be 18 cents a bushel minimum until February 1, 2012. After
February 1, 2012, storage charges will be 3.5 cents per bushel for each
month/calculated daily.
Grades
on soybeans will be averaged daily.
Moisture
discount: All beans over 13% up to 15% moisture will be shrunk 1% of weight for
each ½% of moisture. All beans over 15% moisture will be shrunk 1.5% of weight
for each ½% of moisture over 15%.
ORDER OF APPLICATION
Our method of
application will be as follows:
1.
First we will fill fall delivery contracts:
2.
Second we will put your grain in storage. If you have not given us any
instructions before it is delivered or as it is delivered, your grain will be
put into storage.
3.
If you want to sell your grain the same day it is delivered (spot sale) you
must inform us of this before it is delivered or the same day it is delivered.
Our
cut off for contract application pricing and grading will be at the end of the
day for all grains. All grains delivered on Saturday and Sunday will be priced
on Monday’s close. If there is a Board of Trade holiday on Monday, the grain
will be priced on the close of the next day.
Stored
grain is placed into open storage. Negotiable Warehouse Receipts or Price Later
Contracts may also be issued on stored grain if requested. We have no deadline
in which stored soybeans and corn must be sold. Storage on any grain in our
facilities that has not been prepaid will be due and payable August 31, 2012.
ALL old crop grain stored in our facilities past October 1, 2012 will be
subject to the applicable minimum storage rate.
Rickett Grain will be taking Non GMO Corn for fall
delivery only from those who have contracted with us. It will be handled as
other specialty crops were handled in the past. The delivery will depend on
harvest at that time.
PRICE LATER CONTRACTS
1)
We are offering Price Later Contracts on soybeans at a reduced rate again this
year. The minimum charge is 16 cents on Price Later Contracts as compared to 18
cents minimum storage on open storage and warehouse receipts.
2)
Price Later Contracts can be issued on open storage grain and must be signed by
all parties within 30 days of issuance.
3)
Price Later Contracts may be signed before harvest begins.
If producers
sell for fall delivery and wish to carry money forward, following completion of
delivery, we will send you a copy of your grain sheet showing the money due you
and make payment in 2012. Persons who sell grain to us or store grain with us
are protected by provisions contained in the Illinois Grain Insurance Act.
If
you keep your 2011 crop for over a year, we will automatically issue you a
price later contract or non-negotiable warehouse receipt on open storage grain.
We must do this before the 2012 fall harvest begins. You will be invoiced
for your storage or price later service charges that have accumulated to Aug
31, 2012.
We
are again paying 2.5 cents extra to truck soybeans to the North Elevator in
Manito. The North Elevator will be closed at our discretion.
Scale
communication can be done with Channel 5 on a CB at both
Thank
you again for your business. We have many good customers and are thankful for
you. Please feel free to talk to me anytime you have a suggestion or question.
Sincerely,
Lynn
Coers
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CORN |
(SUBJECT TO CHANGE) Sep 1, 2011 |
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PURCHASE |
STORAGE |
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|||
|
14.1 |
TO |
15.0 |
|
0.0 |
2.5 |
|
|||
|
15.1 |
TO |
16.0 |
|
2.5 |
5.0 |
|
|||
|
16.1 |
TO |
17.0 |
|
5.0 |
7.5 |
|
|||
|
17.1 |
TO |
18.0 |
|
7.5 |
10.0 |
|
|||
|
18.1 |
TO |
19.0 |
|
10.0 |
12.5 |
|
|||
|
19.1 |
TO |
20.0 |
|
12.5 |
15.0 |
|
|||
|
20.1 |
TO |
21.0 |
|
15.0 |
17.5 |
|
|||
|
21.1 |
TO |
22.0 |
|
17.5 |
20.0 |
|
|||
|
22.1 |
TO |
23.0 |
|
20.0 |
22.5 |
|
|||
|
23.1 |
TO |
24.0 |
|
22.5 |
25.0 |
|
|||
|
24.1 |
TO |
25.0 |
|
25.0 |
27.5 |
|
|||
|
25.1 |
TO |
26.0 |
|
28.0 |
30.5 |
|
|||
|
26.1 |
TO |
27.0 |
|
31.0 |
33.5 |
|
|||
|
27.1 |
TO |
28.0 |
|
34.0 |
36.5 |
|
|||
|
28.1 |
TO |
29.0 |
|
37.0 |
39.5 |
|
|||
|
29.1 |
TO |
30.0 |
|
40.0 |
42.5 |
|
|||
|
30.1 |
TO |
31.0 |
|
43.0 |
45.5 |
|
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