Re: OT, April contracts??? They cant take.

Posted by JDseller on May 25, 2011 at 22:40:48 from (208.126.196.144):

In Reply to: OT, April contracts??? They cant take. posted by Dave from MN on May 25, 2011 at 19:12:15:

We have a big elevator that is bad about doing that around us here in North-east Iowa. They usually include pickup from the farm in their trucks. One guy here two years ago, when corn went up the first time, call them to come and get his corn. They put him off saying they had no room. He waited until the contract month was over and called someone else to haul his corn and sold it at the higher spot price. When the contract elevator called to get the corn, twenty days after the contract month was over, he told them he no longer had the corn. The elevator sued him for the difference in the contract price and what they claimed was the current spot price. Saying they had to buy spot priced corn to fill his contract and he owed them the difference. The elevator lost the court case. The local county court here ruled that the elevator had voided the original contract by not buying/picking up the corn buy the end of the contract month.

I would go check with your attorney. I would not say a thing to the elevator until you know what your legal rights are.

I had to force delivery last fall on some November contracted Soybeans. The same elevator as above, told me they did not have any room for my beans. I had all of my wagons tied up. So I could not finish my corn. I called the main office and told them they had two days to take delivery on my bean or I would sell them else where. They said I could not do that. I had to deliver them to them. I told them no problem. I would deliver them to their property. I was sure I could get them to run out of my wagons in the parking lot. Told them that I was on my way with the first thousand bushels. Hung up the phone and took off to the elevator. It was amazing they had room by the time I pulled the wagons the five miles to them. I dumped the beans I needed to fill their contracts that day. The local manager was crying to me how they had to run them into some flat storage and it was going to cost him so much to move them what they had room. I told him he would have a lot more room next year. He questioned me as to why. Told him they had lost ALL of my grain plus my brothers too. BIL found out and later quit them too. They might not notice but that was over 400,000 bushels of grain all together.

Called River Gulf Grain in the quads cities. They where glad for the new business. They have their own barge loading facilities and contract with many of the local processors too. Have not had any problems with them taking delivery.

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