Defered payment?

[buckfarmer]

Any idea why the last several loads of corn and beans I've delivered I had to call and ask for my check. they just say "oh we though you wanted to wait till after the first of the year". Is this what everyone else is doing. I'm going to have a lot more grain to sell in 2014 than 2013. I'm thinking I would be better off taking the income now to have it on this year's taxes.

[BA Deere]

Defered better matches some farmer`s corporate fiscal year?  Maybe some held off buying seed and fert this fall and didn`t want that slug of naked income this year?

[buckfarmer]

I have singed up for delayed payment in the past. But that required a contract. And I was able to sell when I wanted to. With the checks they have sent, after I call and ask for them, the price was from the day I delivered. At the time I did the delayed payment they needed te corn and didn't charge for doing that. I see now they charge twenty cents up front and four cents a month.

[Jim Meade / Iowa City]

It sounds to me like they put your grain in storage and what you got is not a delayed payment.  Some places have rules that if grin put in the elevator isn't sold within X days it's automatically put in storage.  sounds to me like they just goofed up, but maybe they misunderstood you, too.

There is a lot of defered payment grain this year because farmers had some good income last spring and are selling heavily now to take advantage of the present price and don't want what is essentially two years of sales in the same year.

[Shaggy98]

Sold 100% of my grain with deferred payments scattered throughout 2014. I aligned the payments to when I was needing cash to keep the operation running debt free. My coop pays better interest than any bank could even think of offering.

[buckfarmer]

My truck driver told them I wanted to sell when it was delivered. This will be the third time I'll have to call and ask for payment. Is there a possibility they are hurting for money and are just trying to hold off payments as long as posible. I was thinking if they contracted a bunch of grain at prices higher than today's they may be "stuck". BTW it's on of the bigger companies.

[farmerguy89]

If they go dp, eventually you won't be secured if they go broke

[Kay/NC]

Keep calling. I would actually consider sending a letter or email, telling them that you want payments on delivery. You will inform them in writing if you wish yo defer future loads. Honestly, it sounds sort of fishy to me.

Even huge companies are known to defer paying folks, to make a given financial reporting period look better than it really is...kicking the can down the road, as you guys say. We have heard that our integrator has done it to growers in the past, although our pay has always arrived or posted on time. We have shared some repair people in the past, and heard from them of slow payment, too.