Corn Policies/Discounts


                                              Corn Policies - Effective October 1, 2019

Contract alternatives

There will again be several options for pricing corn delivered at harvest. Those include:

  • Forward Contract – Corn is delivered and priced via a preexisting delivery period contract.
  • Spot Sold – Corn is delivered and priced against the current market.
  • Extended Price – 70% advance of cash price once contract is filled, 3 cent per bushel service fee.
  • Basis Contract - Final price must be set against the nearby before delivery, or by the underlying Futures Contract “First Notice Day”, whichever comes first. No rolling will be allowed.

General Policies

  • All corn must be sold or pledged to a Credit Sale Contract prior to the first of the month following delivery.
  • Payment due on corn received will be made on the Thursday following delivery.
  • Corn that is delivered will be first applied to any existing delivery contracts for the period delivered in. Corn delivered in excess of an existing contract will be put in the open position and left there until sold or applied to a signed credit sale contract prior to noon on the last business day of current month, at which time all open bushels will be spot priced.
  • Open (undesignated) corn will be sold at noon on the end of the month of delivery.
  • Corn is not considered to be applied to a credit sale contract until a signed contract by the producer is on file at QCCP.
  • Corn applied to a Price Later/Delayed Price contract will be priced against the spot market only. Forward pricing of PL/DP corn is not allowed.
  • Credit Sale contracts will be written for a term not to exceed one year from the date of delivery.
  • Forward priced corn is for a specific delivery period.
  • QCCP must be notified before delivery if producer wishes to place a contract on deferred payment.
  • Contracts that are cancelled by the seller or are not delivered on by the seller, will result in a 20 cent per bushel charge on the open balance plus the difference (cost), if any, in the market price for corn in the same delivery period.
  • Due to the nature of processing, QCCP’s ability to receive corn is governed by the daily need for corn, available space, and plant operations.
  • Corn Policies Are subject to change without notice

Hours of unloading will be extended as the harvest season dictates. Our policies as well as current unloading hours can be accessed from our website www.quad-county.com or give us a call at (712) 282-4628



                                                                          Discount Schedule 

QCCP Shareholders

  • Corn must be 18.0% moisture or less and be #2 yellow quality or better. Loads below #2 yellow quality subject to rejection
  • Corn over 15moisture will be shrunk at 1.40% per point. No drying charge will be assessed on corn from 15.1% to 18.0% moisture.
  • Corn above 18%, if accepted, will be shrunk at 1.40% per point. Drying charge will be 3.0 cents per point of moisture above 18%
  • Other discountable factors include:

 

  1. Test Weight                                           Discount

53.9 to 52.0 pounds                                   1 cent per pound

51.9 to 50.0 pounds                                   2 cents per pound

49.9 pounds and under                             3 cents per pound, subject to rejection

 

  1. Foreign Material                                     Discount

3.1% to 5.0%                                             2 cents per point

5.1% to 6.0%                                             3 cents per point

6.1% and over                                           4 cents per point, subject to rejection

 

  1. Damage                                                 Discount

5.1% to 10.0%                                           2 cents per point

10.1% and over                                         3 cents per point, subject to rejection

 

  1. Other                                                      Discount

Musty, Sour, COFO                                 10 cents per bushel each factor

                                                                    (subject to rejection)

Infested                                                      3 cents per bushel, subject to rejection

 

 

 Non-shareholders

  • Corn must be 18moisture or less and be #2 yellow quality or better. Loads below #2 yellow quality subject to rejection
  • Corn over 15%, will be shrunk at 1.40% per point. A drying charge of 3.0 cents per point will be charged above15%.
  • Other discountable factors include:

 

  1. Test Weight                                          Discount

53.9 to 52.0 pounds                                   1 cent per pound

51.9 to 50.0 pounds                                   2 cents per pound

49.9 pounds and under                             3 cents per pound, subject to rejection

 

  1. Foreign Material                                    Discount

3.1% to 5.0%                                             2 cents per point

5.1% to 6.0%                                             3 cents per point

6.1% and over                                           4 cents per point, subject to rejection

 

  1. Damage                                                  Discount

5.1% to 10.0%                                           2 cents per point

10.1% and over                                         3 cents per point, subject to rejection

 

  1. Other                                                       Discount

Musty, Sour, COFO                                 10 cents per bushel each factor

                                                                    (subject to rejection)

Infested                                                      3 cents per bushel, subject to rejection


Quad County Corn Processors reserves the right to reject corn that is not suitable for processing.
*POLICIES AND DISCOUNTS SUBJECT TO CHANGE WITHOUT NOTICE*