Tremont Co-operative Grain Co. Harvest Policies
TREMONT CO-OPERATIVE GRAIN CO.
2024 HARVEST RATES AND POLICIES
Tremont, Adwell and Toboggan
REMINDERS:
Your scale ticket is still the key to all grain business conducted so please keep your tickets until final settlement is made.
IT IS YOUR RESPONSIBILITY TO NOTIFY SCALE ATTENDANT of the disposition of your grain; ex. storage, contract, open market, or price later. We also need to know how it is to be split if multiple customers are involved. Farm codes are required at the scale; please help us stay efficient during harvest and use the code(s) that we have provided. All this information is needed to properly process your tickets. Please also notify us when you have delivered the last load for a particular settlement sheet. Your continued cooperation in these matters is greatly appreciated and helps us serve you better.
* * * PRICE LATER POLICY * * * * The ILLINOIS GRAIN CODE requires us to PRICE YOUR GRAIN if your PRICE LATER CONTRACT IS NOT SIGNED WITHIN 30 DAYS OF DELIVERY. WE WILL ENFORCE THIS.
**TO REDUCE PAPERWORK AND SIGNATURES, price later contracts will be made per farm only if requested. Each farm gets an individual delivery sheet, and once all farms are completed, you'll receive one price later contract per commodity.
GENERAL POLICIES:
**Grain Deliveries Revised Spot Bushel Policy - The 3 pm cutoff has been removed. All same-day deliveries will get the day's spot price. Bushels delivered on weekends will use the previous Friday's spot rate.
**Disposition Disposition of grain must be designated at time of delivery.
7-Calendar Days Free PL- No fees if priced within 7 days. Day of delivery ticket adjustments from 7 am to 5 pm during harvest office hours. Pricing after day of delivery, but within 7 days must be from 8:30 am to 1:15 pm, Monday to Friday. IF you wish to delay settling the tickets, you must communicate that to the bookkeeper and do not tell the scale attendant “Last Load”.
Handling Charges 10¢ per bushel charge if hauling stored grain out.
Storage Payment Storage charges will be deducted at time of sale of stored grain, unless Warehouse Receipts are needed for government loans in which case 9 months storage has to be prepaid before issuance of Warehouse Receipts. See also Held Over Grain below.
Price Later Payment Price Later charges will be deducted at time of sale of Price Later grain. Price Later Grain is not eligible to be Warehouse Receipted. See also Held Over Grain below.
Drying Payment Drying charges will be deducted from grain sold during harvest on individual settlement sheets. Drying charges on stored and Price Later grain will be billed by the Co-op and payment will be due by November 15, 2024.
Deferred Payment If you wish to defer the payment of your grain until January 2025, please let us know BEFORE your grain is delivered to protect yourself. Per IRS ruling this decision must be made at time of contract and before delivery of grain.
Contract Shortage As soon as you realize you will be unable to fill a contract please contact us to arrange terms to buy back the
Held Over Grain All corn and soybeans remaining in storage and Price Later after August 31, 2025 may, if management
decides space needs warrant it, be charged a 10 (ten) cent surcharge in addition to a new minimum on
September 01, 2025. Additionally, unsold corn and soybeans will have all accrued storage or price later
charges billed and those charges will be due on September 25, 2025.
Liens All grain payments are subject to a Warehouse Lien allowing the elevator to deduct any outstanding drying, storage, and or service charges from the proceeds of the sale of grain.
* PLEASE NOTIFY ELEVATOR PRIOR TO DELIVERY IF YOU HAVE EXPENSES TO WITHHOLD