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Veteran Advisor
Posts: 2,604
Registered: ‎02-11-2013
0

Tell me why

The basis is way over $1.00

In some quotes worse than last year

When we had piles on the ground

Now no piles and not a big crop.

I have a number of bills coming due plus family
Member very I'll.....and the elevator thinks they
Need, want and deserve the money

I say $#@+ them



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Contributor
Posts: 14
Registered: ‎06-04-2016

Re: Tell me why

Sorry, haven't been on here long enough to know where everyone is located. Just checked my Cargill elevator where I haul a good portion of my crop. 36 cent basis on corn, 80 cents on beans for September delivery. Albion, Nebraska. However, that's a 75 mile haul (each way).  My closest local elevator is 75 cent basis on corn, $1.00 on beans.  That's why I bought a grain trailer and semi to haul my corn. Pays for itself in more revenue in 5 years. Bank would only finance 4 years, so a little negative cash flow for a while, but in the end, I own the truck and can enjoy the higher revenue. 3 payments down, one to go!

 

I realize not everyone can do this. I can hold about 2/3 of my crop in my bins, so I don't have a lot of trucking when the lines are long at harvest. And I don't have cattle so I forward contract for July - October deliver when there's not much going on and I have time to haul that far. So I'd suggest getting on the internet and find an elevator somewhere that will give you a fair price and that is easy to deal with.  I like Cargill because I rarely have to talk to anyone there. I have an account where I log in, and when I see a price and delivery month I like, I just click on the "Sell Grain" button. I tell it how many bushels, it confirms the price, and it pops up a contract for me to sign electronically.  Easy Peasy. They also have a dashboard where I can see how many bushels I've delivered and how many to go on any contract. As soon as the contract is filled, they mail me a check. (They won't hesitate to dock you for moisture or FM though, so make sure you have good grain before you haul it any distance!)

 

Don't get me wrong, I like to do business local when I can. But this is ridiculous - I can haul it a long way for 40 cents.

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Honored Advisor
Posts: 5,199
Registered: ‎01-10-2012

Re: Tell me why

You don't owe anyone your business,

Your loyalty is(or should be) to yourself and your family (wife and kids).