NEW Cooperative strives to
provide the best possible service and support to the changing needs of our
members, and with that in mind, we offer grain policies that assist growers
with settlement decisions. As we begin our Fall 2016 harvest, we want to
inform you of three changes to our grain policy.
First, NEW Cooperative is
pleased to reduce the drying rates for 2016. Drying rates this fall will
be 3.5¢ per point. This is a 1/4 cent reduction from last years’ drying
Second, our grain delivery
and disposition terms have also been revised. Currently, delivered grain
must be “disposed (settled) within ten days of the average delivery date, or
within twenty days of the first load date, whichever comes first”.
Beginning with the 2016 harvest, this disposition (settlement) period has been
extended. All deliveries will close automatically 20 days after the first
load has been delivered. The producer will then receive an extra seven
days to settle the grain. If the grain has not been settled within this
grace period, storage fees of .167¢ per bushel will automatically accrue from
the average delivery date. This change will provide the grower with more
time to settle the grain and, with lower commodity prices, the ability to make
good decisions on the disposition (settlement) of the grain.
Third, with the revision
to our grain delivery and disposition terms, it was appropriate to also
re-evaluate the current Price Later service charges for corn. We are
pleased to announce that our rate for Price Later service charges has been
reduced to .167¢ per bushel, making the rate for both corn and soybeans the
We hope our growers have a
safe harvest, and we look forward to servicing your needs this fall!
For a detailed look at our grain policies, follow this link: http://bit.ly/2cfWrp6