Posted by NY 986 on September 30, 2011 at 04:56:25 from (67.142.178.26):
In Reply to: Re: Started beans posted by IaGary on September 30, 2011 at 01:57:14:
Gary, it's a different world here in the East. Where I am at the elevators have had a long history of instability. There have been quite a few that would forward contract but then you have to weigh the issue of whether you will get paid. There is a long list of operators that failed and left farmers hanging. Yes, they are bonded but more times than not that does not mean full reimburstment. I've heard of guys getting half or less of what they are owed in these situations. I'm am too small and run too tight to the margin a lot of years to take a chance on somebody crapping out and owing me a lot of money. As a stated here recently a big national outfit has solidified its presence here by buying a rail siding and adding to the capacity there. Maybe in the future I can have confidence in a forward contract.
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