grain RATES & discounts - effective 09/05/2024

Please reach us at office@prairieagcommodities.com or 319-865-1450 if you have specific questions.

Drying Rates for Corn

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%

Storage Rates

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

Price Later Contract

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.

Corn Discounts

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

Bean Discounts

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