Tremont Co-operative Grain Co. Harvest Policies

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 contract.

 

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


2024 HARVEST RATES

 

CORN RATES:

                         

DRYING RATES                   15.1 - 16.0 = $  .04                            23.1 - 24.0 = $ .25

                                                16.1 - 17.0 =     .08                            24.1 - 25.0 =    .265

                                                17.1 - 18.0 =     .12                            25.1 - 26.0 =    .28

                                                18.1 - 19.0 =     .16                            26.1 - 27.0 =    .29

                                                19.1 - 20.0 =     .18                            27.1 - 28.0 =    .30

                                                20.1 - 21.0 =     .20                            28.1 - 29.0 =    .31

                                                21.1 - 22.0 =     .22                            29.1 - 30.0 =    .32

                                                22.1 - 23.0 =     .235                            Over   30.0 =  .03 additional

                                                                                                                      per each additional point.

 

Shrink Factor               Shrink is 1.35% per point of moisture. Contract or open price corn will be shrunk to 15%

                                                                                                    Storage or Price Later corn will be shrunk to 14%

 

 Storage Charges         22¢ per bushel minimum rate until January 2, 2025. After January 2, 2025, 3.5¢ per bushel

                                    per month prorated daily.

 

Price Later Charges    18¢ per bushel minimum until January 2, 2025. After January 2, 2025, 3.5¢ per bushel per

                                     month prorated daily.

This Price Later Rate is subject to change without notice.  Special Price Later rates may be offered for special delivery terms.  Check our website or office for current postings.

 

All rates are subject to change without notice.

 

 

SOYBEAN RATES:

 

Storage Charges        24¢ per bushel minimum storage until January 2, 2025. After January 2, 2025, 3.5¢ per bushel

                                  per month prorated daily.

 

Price Later Charges   20¢ per bushel minimum until January 2, 2025.  After January 2, 2025, 3.5¢ per bushel per

                                   month prorated daily.

      This Price Later Rate is subject to change without notice. Special Price Later rates may be offered for

                                 special delivery terms.  Check our website or office for current postings.

 

Moisture Discount     All beans over 13.0% moisture will be shrunk 0.3% of weight for each 0.1% of moisture.  Loads 14.6%

and over will be shrunk 2.0% per half  % of moisture. All loads 14.5% and below will be averaged by farm. 

 

Foreign Material       All Foreign Material over 1% will be deducted from the gross weight and will not be

                                  paid for.

 

Grading                     Grading will be load by load (except for moisture as described above). Grade discounts are subject to

                                  change without notice.                  

 

 

Reminder Notes:   You can now communicate with us via text message. Just message our landlines to send us a message. We also offer grain bids and closing times via text message. Please download our Android and iOS app from the app store to see grain deliveries, contracts, and more.

 

All of us at Tremont Co-op wish you a safe harvest and look forward to serving you again this year.