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Tool Talk Discussion Forum

Renting a Grain Bin?

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Scotty

05-02-2004 00:37:39




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Had a ? run by me today!
a fellow in Indiana wants to know what a 5500 bushel grain bin with a bottom blower, & a drying floor that is less than 2 years old would normally rent for? And how You would normally rent it out (such as by the bushel, or the whole bin) + what do people normally charge for using the dryer? All thoughts welcomed! I personally have no idea what so ever.

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slacker

05-03-2004 18:09:54




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 Re: Renting a Grain Bin? in reply to Scotty, 05-02-2004 00:37:39  
Scotty, I have two 30,000 bu bins that I rent out. I have been getting ten cents a bushel for them I supply the electricty and augers to fill them,and to take the grain out, they have drying floors, with a fan. I get half the money up front with the rest before they remove any grain. North cental Indiana here....



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Shane

05-03-2004 20:49:27




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 Re: Re: Renting a Grain Bin? in reply to slacker, 05-03-2004 18:09:54  
What part of IN you from? I am just outside of South Bend... maybe not too far from ya!



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Scotty

05-04-2004 02:39:26




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 Re: Re: Re: Renting a Grain Bin? in reply to Shane, 05-03-2004 20:49:27  
If my memory serves me it was located Southywest of Greencastle, IN. Almost straight West of Indianapolis



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Shane

05-04-2004 20:36:43




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 Re: Re: Re: Re: Renting a Grain Bin? in reply to Scotty, 05-04-2004 02:39:26  
Yep, Greencastle is about 150 or so miles away. Have a good friend livin there now.



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Scotty

05-04-2004 02:36:41




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 Re: Re: Re: Renting a Grain Bin? in reply to Shane, 05-03-2004 20:49:27  
It is located Southwest of Greencastle; Not sure of exact location; But pretty far away from South Bend!



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Michael

05-02-2004 18:25:10




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 Re: Renting a Grain Bin? in reply to Scotty, 05-02-2004 00:37:39  
Iowa State University has a paper that describes how to calculate grain bin rent.

Link



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ShepFL

05-03-2004 06:40:48




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 Re: Re: Renting a Grain Bin? in reply to Michael, 05-02-2004 18:25:10  
Wow -
What a site, thanks for the link. Problem will be finding the time to read and learn.



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Michael

05-03-2004 19:27:12




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 Re: Re: Re: Renting a Grain Bin? in reply to ShepFL, 05-03-2004 06:40:48  
Glad you liked the link. I'm a "new" farmer, a.k.a. former city slicker in NE Iowa and love the Iowa State Extension. They have info about everything. They have really helped me get up to speed. The faculty has been very helpful via e-mail, too.



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Scotty

05-03-2004 01:22:45




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 Re: Re: Renting a Grain Bin? in reply to Michael, 05-02-2004 18:25:10  
Thanks to all! The Iowa St. Extension service must be run by information specialist. There is a lot to chew there. You just have to have time, & patience to sift through it all! Its really a fantastic website!



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JMS/MN

05-02-2004 17:38:00




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 Re: Renting a Grain Bin? in reply to Scotty, 05-02-2004 00:37:39  
Years ago I had grain dried at a neighbor's, and later dried FOR neighbors after building a bin. In each case, the drying cost was 2 times the gas. You can estimate gas used by checking the % full gauge on the LP tank. Gas price per gallon times gallons times two would equal the final cost. There was no storage involved- the grain was removed after drying. Around here, farmer-owned storage is usually two cents per bushel per month- commercial is three cents. (Entire bin size- since the renter is tying up the bin, he pays for the entire capacity.) Insist on a minimum time- maybe six months. It doesn't pay for you to rent it to someone for 1-2 months when you could have found someone for longer storage. Commercial elevators here also have a ten cent dump charge, and if you take the grain out, rather then sell it through them, they charge another ten cents for loading out.

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paul

05-02-2004 20:24:31




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 Re: Re: Renting a Grain Bin? in reply to JMS/MN, 05-02-2004 17:38:00  
Obviously we are in the same neck of the woods, as that's about what I was going to say. :)

Some charge 2 cents a bu for 6 or 8 months for the entire bin capacity for the year, assuming that is about the use the renter will get out of it.

Drying is more difficult, you need to cover your gas & electricity costs, plus depreciation on the drying part of the equipment. About double the gas would probably be the right neighborhood.

--->Paul

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Shane

05-02-2004 11:53:13




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 Re: Renting a Grain Bin? in reply to Scotty, 05-02-2004 00:37:39  
Several years ago we rented bins from a neighbor, he paid for the aeriation fan electricity and we paid 7 cents/bushel till May 1 then it was 10 cents a month after that; I think... pretty sure. As far as the drying part I would guess the guy using the propane would buy it and pay for the electricity to use the drying fans. Our bins are on thier own meter so you could determine the cost but most may not be.

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Ron/PA

05-02-2004 07:55:06




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 Re: Renting a Grain Bin? in reply to Scotty, 05-02-2004 00:37:39  
Scotty, I've seen a few rented around here. Most try to avoid "Shared Storage" it seems a problem arises when you rent it on a bushels in system. Due to the unknown factor of drying, bushels in are hard to equate to bushels out. Seems the last guy to remove his, ended up wayyyy short. Drying has been charged 2 ways, Propane plus time run, or propane provided, and flat rate running time. Sorry I can't help you with prices, but I never got personally involved in one of these deals. Good luck
Ron

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