IOWA PRICE LATER PROGRAM

CORN

  • Corn can be delivered to CVA’s Locations as space allows.

    • Current locations are: Oyens and Hintion

  • If the corn is not settled before market close on October 31, 2018, the grain will be sold at market close on October 31, 2018.

  • Other locations will be added as space becomes available.

  • After delivery and a signed contract is returned, title will pass to CVA.

  • Price Later grain cannot be put on a Warehouse receipt, Open Storage, or Grain Bank once it is placed on a Price Later Contract.

  • Producer must designate at the time of delivery that grain is to go on Price Later Contract. DP contracts will be issued every 15 days.

  • Producer must sign and return the contract within 15 days of the issuance of that contract.

  • If the contract is not returned signed after 15 days of the issuance, bushels will go into open storage and begin accruing storage from the date of delivery.

  • Price Later will only be for grain delivered January 2, 2018, and after and until CVA ends the program.

  • No service charges will be applied if settled on or before October 31, 2018.

  • Corn will be dried and shrunk to 15% moisture at CVA’s published rates at the time of delivery. Corn will be subject to posted CVA discount schedule at the time of delivery.

  • All loads 14.0%-18.0% will be averaged in a 15-day delivery window. All loads 18.1% and above will be discounted on a load by load basis (no averaging on these loads). All drying charges are on wet bushels.

  • Corn must be priced at the nearby or “spot” bid for the location to which grain was delivered. No sales can be made for future delivery (Forward Contracted) (this would give CVA double ownership).

  • Grain that had been previously forward contracted cannot be delivered on Price Later and applied to the forward contract during the delivery period the corn was contracted for (this would give CVA double ownership).

SOYBEANS

  • Soybeans can be delivered to CVA’s Locations as space allows.

    • Current locations are: Hinton

  • Other locations will be added as space becomes available.

  • If the Soybeans are not settled before October 15, 2018, there will be a $.10/bu. service fee plus a $.05 per month or any part of a monthly fee for each month OR any part of a month starting October 16, 2018

  • After delivery and a signed contract is returned, title will pass to CVA.

    Price Later grain cannot be put on a Warehouse receipt, Open Storage, or Grain Bank once it is placed on a Price Later Contract.

  • Producer must designate at the time of delivery that grain is to go on Price Later Contract. DP contracts will be issued every 15 days.

  • Producer must sign and return the contract within 15 days of the issuance of that contract.

  • If the contract is not returned signed after 15 days of the issuance, bushels will go into open storage and begin accruing storage from the date of delivery.

  • Price Later will only be for grain delivered March 5, 2018, and after and until CVA ends the program.

  • No service charges will be applied if settled on or before October 15, 2018.

  • Soybeans will be dried and shrunk to 13% moisture at CVA’s published rates at the time of delivery. Soybeans will be subject to posted CVA discount schedule at the time of delivery.

  • 15% moisture and under will be averaged in a 15-day window. All loads 15.1% and above will be discounted on a load by load basis (no averaging on these loads).

  • Soybeans must be priced at the nearby or “spot” bid for the location to which grain was delivered. No sales can be made for future delivery (Forward Contracted) (this would give CVA double ownership).

  • Soybeans that had been previously forward contracted can not be delivered on Price Later and applied to the forward contract during the delivery period the soybeans were contracted for (this would give CVA double ownership)