Well, that was different...

Dave H (MI)

Well-known Member
So the daughters came up to me today and said they needed to run to the elevator and get corn. Seems they are out and they cannot feed their various project livestock today. So I am a little unhappy with them. It is end of month and I am low on funds until I do the February 1st bills and transfer my budget money for that month. I suggest maybe they could anticipate better and hit me up earlier in the month. They just stare at me like I am nuts. "Dad, we OWN the corn! They are just storing it for us!" So instead of laying out a couple hundred for feed corn, I will be paying 10 cents a bushel.

I could get used to this!
 
I am guessing you never had your OWN corn before??? LOL

IF you want to counter that "good" feeling add up all of your cost in raising the corn and then figure out the time you spent "fixing" the corn planter and combine. Your "own" corn might be pretty expensive.
 
No, actually, if I use all of my CPA tricks and apply expenses to the proper periods, the corn is just about at break even. Having said that, I will tell you that I had to allocate a value to the corn I used myself. An appropriate estimate is how much I would have paid for it if I bought it from the elevator like I have done in past years. So, like the other fella says, the fact that I bought a lot of my own corn is what kept me (close) to being in the black.

I refuse to be discouraged. 2014 (weather) was horrible. I had no idea what I was doing. I am not the most pride filled person you will run into but I still am not going to tell anyone what my bpa yield was. I'll just say it was not good. The watershed down the center of that field only dried for about two weeks. I don't think we had nearly enough warm days. Give me some time and some better weather and I might make a dime or two. And I don't know the ins and outs of those test weights yet either but, suffice it to say, I did not get paid for near what I left at the elevator. So I guess they charge to dry it, then re-weigh it, then pay you on that? Are we having fun yet?

Actually? Yeah. :)
 
Typically they charge you a drying fee.

They charge a shrinkage fee that is a tad high.

They charge a low test weight fee in a year like this.

There is a foreign matter fee if too much cob or junk is in the sample.

Then a storage fee, typically 3 months minimum.

And if you take the corn back, a load out fee.

Paul
 
Yes, I paid all of the above except the foreign matter fee. I had really clean corn. I guessed I had the thing set up perfect until I jammed up the tailings elevator. Too much corn going thru a second time. Had a chat with the PO and ended up balancing the sieves a little differently. Still clean, no jam. Have to say I would prefer to dry it on the premises though. Driving it up there, paying for drying, and then driving it back after storage and load out fees is expensive both in dollars and time.
 

Well Dave you could be like my Brother-in-law. He has about $50,000 of equipment and pays land rent on pasture and crop land just to keep from buying a $2500 freezer beef each year. The real funny part is he actually does not like farming he really thinks he is "saving money. LOL
 

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