1. Warehouse Receipt Storage Rate – From the first day of delivery, the depositor has 15 days to sell corn without a storage charge.

On day 16 or when delivery is complete, the weighted average deposit date will be determined and a 7-cent minimum plus 1/10th of a cent per bushel per day storage charge will be charged for the first 100 days.

After 100 days, daily storage charge drops to 1/17th of cent per bushel per day.

After one year, storage charge increases back to 1/10th of a cent per bushel per day.

2. Grain Bank Corn – Storage charges start at the end of the first full calendar month after corn is delivered. Storage is charged on the bushels that remain here at the end of the month. Other grain bank features are:

There is no “in” or delivery charge.

At the end of each month, remaining corn will be charged 3-cents per bushel storage (following the free period).

The corn moisture requirement is 15 percent.

All corn purchased from FAC for grain bank must be paid for within 10 days of purchase, and a 3-cent storage per bushel charge will be incurred at the beginning of each month for unused corn.  The storage charge starts immediately.

Corn hauled away from FAC will be assessed a 10-cent per bushel out charge.

3. Price Later Contract – The service charge will be 15 cents, plus 1/10th of a cent per day.  Grain must be sold or placed on a new price later contract by August 27, 2008. When you deliver corn, inform FAC if you want a price-later contract.

4. Corn Disposition – You have 15 days of free storage from delivery day.

Producer must specify between open storage, warehouse receipt, price later, purchase contract, or other before the 15 days expire.

If no disposition is specified, corn will automatically be placed on open storage with normal storage, drying and shrink charges applying.

5. Moisture Requirements and Discounts
Purchase, Price Later, Basis Contracts – Moisture requirement is 15 percent or less. All loads up to 18.0 percent will be averaged together. All loads more than 18.0 percent will be averaged separately.
Corn for Warehouse or Open Storage – Moisture requirement is 14 percent or less. All loads up to 18.0 percent will be averaged together. All loads more than 18.0 percent will be averaged separately.

6. Aeration Charges – Grain received 18 percent moisture or less will be put in aeration bins and charged an aeration fee of 4.0 cents per bushel for each point of moisture removed. 

7. Drying Charges – Grain received 18.1 percent moisture and above will be put into bins to be dried. Drying charges will be 4.5 cents per bushel for each point removed. CUSTOM DRYING – Corn dried and removed from FAC facilities will be charged 10 cents per bushel handling fee plus normal drying and shrink charges. Custom-dried corn must be removed the day of delivery.

8. Corn Shrinkage Rate – Rate is 1.35 percent for each point of moisture removed.

All rates, terms and conditions described herein are subject to change without notice
Direct ship grain will follow policies of the buyer.