PO Box 8, Mount Union, Iowa 52644, United States
grain RATES & discounts - effective 09/05/2024
Please reach us at office@prairieagcommodities.com or 319-865-1450 if you have specific questions.
Drying and shrink will apply to all corn SOLD or placed on Warehouse Receipt, Price Later Contract. Corn that is Priced will be dried to 15% moisture. Each load will stand on its own.
1.75 cent each .5% or fraction above 14.0%
We will use a shrink factor on corn of 1.35%
Corn
Minimum Charge: 12 cents per bushel for 60 days
After Minimum: $.0015 per bushel per day thereafter
Beans
Minimum Charge: 14 cents per bushel for 60 days
After Minimum: $.0017 per bushel per day thereafter
Corn
Service Charge and Drying Rates: 12 cents per bushel for 60 days
Will be dried to 14% $.0015per bushel per day thereafter
Beans
Service Charge and Drying Rates: 14 cents per bushel for 60 days
$.0017 per bushel per day thereafter
Contract good for one year and can be renewed at the service charge and drying rate of the current year. Producer receives Prairie Ag Commodities price at the time of pricing and can be sold in any bushel amount. Subject to the current discounts and policies established at Prairie Ag Commodities.
Test Weight: Below 54# to 50# 1 cent per pound or fraction
Below 50# 2 cents per pound or fraction
Damage: 5.1% - 10.0% 2 cents per pound or fraction
10.1% - 15.0% 3 cents per pound or fraction
Above 15.0% 4 cents per pound or fraction
Foreign Materials: 3.1% - 10.0% 2 cents per pound or fraction
Above 10.0% 3 cents per pound or fraction and
subject to rejection
Aflatoxin: Subject to rejection
Musty: 10 cents per bushel
Sour: 10 cents per bushel
Heating/Hot: 10 cents per bushel
Weevily: 10 cents per bushel
COFO: 10 cents per bushel and subject to rejection
Test Weight: Below 54# to 52# 1 cent per pound or fraction
Below 52# 2 cents per pound or fraction
Moisture: 13.1% - 17.0% 12 cents each .5% or fraction
Above 17.0% 24 cents each .5% or fraction and
Subject to rejection
Foreign Materials: In excess of 1% Shall be deducted from weight
Damage: 2.1% - 10.0% 2 cents per point or fraction
Above 10.0% Subject to rejection
Musty: 10 cents per bushel
Sour: 10 cents per bushel
Heating/Hot: 10 cents per bushel
HARVEST 2024-2025
We will hold grain in an open position for 15 days. After 15 days, grain will be put in storage, using the average deposit date for the storage date. Grain brought in after 4:00 p.m. will be on next day’s business.
Direct shipped grain is subject to the respective terminal discounts. All discounts listed are subject to change without notice.
All spot priced grain will be priced using Prairie Ag Commodities' closing price on the date delivered (weekend deliveries after 4:00 pm Friday will use Monday's closing price.)
INDEMNITY FUND: Fees on grain sold to or deposited at Iowa-licensed grain dealers and elevators will be reinstated beginning Sept. 1, 2023, as part of the Iowa Grain Indemnity Fund following the passage of Iowa House File 666 by Gov. Kim Reynolds. This is the first-time fees will be collected for the Grain Indemnity Fund (GIF) since 1989, three years after the GIF was created during the farm crisis. The GIF is intended to provide financial protection to farmers by depositing grain in Iowa-licensed storage. The fund pays out up to 90% of any loss of grain up to $300,000 per claim if a state-licensed grain dealer or grain storage facility fails. Recent claims in the wake of three locations relinquishing their licenses have dipped the balance of the fund below $3 million, which triggered the reinstatement of participation fees per state law. Fees have to be active for a minimum of a full year and will remain live until the fund reaches $8 million. The fee only applies to cash sales, as credit sale contracts are not included in the fund’s coverage. For more about the Grain Indemnity Fund:
https://iowaagriculture.gov/grain-warehouse-bureau/grain-indemnity-fund-coverage