New Vision Co-op Grain Harvest Policies

We request 24 hours from the last load received or from check request before grain check is issued.

(Effective September 1, 2022)

ALL PROGRAMS AND POLICIES ARE SUBJECT TO CHANGE WITHOUT NOTICE

No early delivery of grain contracts for November or later will be accepted.  Early deliveries of contracted grain will be priced out on the day of delivery and the original contract will remain in place.

Grain Application at the scale:  Our new grain software requires that the disposition of the grain is entered correctly, at the Scale, when the grain is delivered.  All drivers delivering grain will need to know the following information:  Grain owner(s), Grain Share Splits, Grain disposition (Cash, Warehouse Storage, Feed Bank, Delayed Price Agreement).

Deferred Payment Contracts will be available for both corn and soybeans.   Grain committed to deferred payment cannot be changed. Verbal deferred payment instructions are also irrevocable.

Grain will be priced based on its actual delivery point on the date of sale.

FEED BANK PROGRAM

Corn deliveries for Feed Bank are limited to Worthington, Windom, Magnolia and New Vision shuttle loading locations at Brewster, Hills, Heron Lake, Mountain Lake and Miloma.  The first 60 days of feed bank stored grain will be free.  If feed bank grain is stored beyond 60 days, storage charges will be invoiced at $.05 per bushel per month based on the month end balance.  Off grade corn containing high Damage and high Foreign Material cannot be deposited into Feed Bank account.  Feed bank grain not processed for feed will be subject to regular storage charges and a $.25 per bushel penalty.

ON FARM PICK-UP

On Farm pick-up will be available on corn and soybeans on a first come-first served basis with priority given to New Vision satellite locations.  Contact any New Vision office for additional information.

STORAGE

No minimum charge!  The storage rate will be $.055 per bushel per month with charges calculated on a daily basis.  Limited storage space will be available for corn and soybeans on a first come-first served basis.  Storage space will depend on pre-harvest inventory, car supply, crop size, and soybean purchases during harvest.  All grain that is sold out of Storage, DPA, or Warehouse Receipts will be sold on the spot cash market ONLY.  Stored grain cannot be applied to Forward Contracts.

DELAYED PRICE PROGRAMS

SOYBEANS:  The service fee will be $.05 per bushel per month with charges calculated on a daily basis.  DPA soybeans must be priced by Friday, October 13th, 2023. Grain not priced by Friday, October 13th, 2023, will be automatically and without notice be priced at noon on Monday, October 16th, 2023.  A reminder to producers, DPA contracts are not eligible for CCC loans or LDP programs.

CORN:  The service fee will be $.05 per bushel per month with charges calculated on a daily basis.  DPA corn must be priced by Friday, October 13th, 2023. Grain not priced by Friday October 13th, 2023, will be automatically and without notice be priced at noon on Monday October 16th, 2023. A reminder to producers, DPA contracts are not eligible for CCC loans or LDP programs.

2022 Crop DPA Cash Advance Program

New Vision Coop will offer a DPA contract with a cash advance for 2022 crop corn and soybeans for a limited number of bushels.  These terms are applicable to both corn and soybeans committed to this contract:

  1. Title Transfer & Loan Eligibility. Title transfers to New Vision Coop upon delivery. DPA contracted grain is not eligible for CCC loans or LDP programs.
  2. Delivery Conversion Options. Corn or beans that originally delivered to New Vision elevators on Open Store or DPA may be converted to the DPA Cash Advance Program. Accrued service fees and drying charges are due prior to issuing an advance if bushels are converted to the DPA Cash Advance Program.
  3. Cash Advance. Cash advance can be taken at any time prior February 1, 2023.
  4. Market Risk. If Cash Price declines to within .15/bushel of the advance price the DP contract will be automatically priced, and settlement made to the producer. In the event the final cash settlement amount is less than the advance price plus accrued fees, the producer will be responsible for payment of the difference between the cash advance and the final settlement dollars. The invoice shall be due upon receipt.
  5. Price by October 13th, 2023 or will be priced automatically and without notice on October 16th, 2023.
  6. No minimum service fee applies.
  7. All terms are subject to change at any time. Quantities for this program are limited.

Additional terms and conditions:

    • Corn - Corn will be shrunk to 14.0% moisture. Drying charges will be paid prior to receiving an advance. Advance rate will be $ 4.50 per bushel. Service charges will be 5.5 cents per bushel per month charged on a daily basis with no maximum charge.
    • Beans- Beans will be shrunk to 13.0% moisture. Advance rate will be $ 9.75 per bushel. Service charges will be 6.75 cents per bushel per month charged on a daily basis with no maximum charge.

2022 Extended Price Grain Contract

New Vision Coop will offer an Extended Price Grain Contract for 2022 crop corn and soybeans for a limited number of bushels.  These terms are applicable to both corn and soybeans committed to this contract:

  1. Title Transfer & Loan Eligibility. Title transfers to New Vision Coop upon delivery. Extended Price contracted grain is not eligible for CCC loans or LDP programs.
  2. Delivery Conversion Options. Corn or beans that originally delivered to New Vision elevators on Open Store or DPA may be converted to an Extended Price Grain Contract. Accrued service fees and drying charges are due prior to issuing an advance if bushels are converted to an Extended Price Grain Contract.  Original shrink and drying charges and accrued service fees will not be adjusted.
  3. Cash Advance. Cash advance can be taken at any time prior to the Final pricing of Extended Price Grain Contract.
  4. Market Risk. If CBOT declines to within .15/bushel of the open equity the Extended Price contract will be automatically priced, and settlement made to the producer. In the event the final cash settlement amount is less than the advance price plus accrued fees, the producer will be responsible for payment of the difference between the cash advance and the final settlement dollars. The invoice shall be due upon receipt.
  5. Extended Price Grain Contracts must be priced prior to the Friday before first notice day of the CBOT futures month assigned to the Extended Price Grain Contract. Extended Price Grain Contracts will not be allowed to roll. All Extended Price Grain Contracts must be priced by August 18th, 2023.
  6. All terms are subject to change at any time. Quantities for this program are limited.

Additional terms and conditions:

  • Corn - Corn will be shrunk to 15.0% moisture. Drying charges will be paid prior to receiving an advance. Advance rate will be 4.50/bushel.
  • Beans - Beans will be shrunk to 13.0% moisture. Advance rate will be 9.75/bushel.

Grain Grade and Moisture Standards

CORN.  2022 crop, Test Weight, Damage, and Foreign Material will be averaged by delivery period.  New Vision corn bids are based on #2 yellow corn grade factors and settled at market discounts on the date of sale.  Loads above 4.0% Foreign Material and 10.0% Damage will be settled individually and not be included in grade averages.

Harvest Moisture Discounts:  1.4% shrink and a drying charge of .05 per bushel for each point of moisture removed.  Loads up to 16.0% moisture will be averaged for Cash and Contracts only, provided the overall average is 15% moisture or less.

Cash and Contract corn will be shrunk to 15.0%

Storage, Feed Bank and Delayed Price Agreement Contracts will be shrunk to 14.0%

SOYBEANS.  2022 crop, Test Weight and Damage will be averaged by delivery period.  New Vision soybean bids are based on #1 Yellow Soybean grade factors and settled at market discounts on the date of sale.

Bushels will be deducted from any load with Foreign Material over 1.0%

Harvest Moisture Discounts:  1.0% shrink for each 0.5% of moisture over 13.0% to 15.0%, 1.5% shrink for each .5% over 15.0%.  Soybeans over 17.0% moisture may be rejected.  Loads with moisture 14.0% and below will be averaged by delivery period. Soybeans will be shrunk to 13.0%, Cash, Storage, and DPA.

Worthington, Windom, and Magnolia Feed Corn Deliveries
Since this corn must be of top quality to satisfy the requirements for the rations of our feed customers, corn not suitable for feed processing will be discounted $.04 per bushel to offset the transfer expense to one of our rail loading locations.

Grain Donation Policy

If you want to donate grain to a church, FFA, school, other charitable organization, employee etc. please deliver the grain in their name at the time of delivery.

If grain is delivered in your name and you later would like to donate there are two options:

  1. Grain applied to any disposition will stay in the producer’s name and the check will be made payable to the person or organization specified.
    • This grain will reflect on the producer’s proof of yield and as income on their 1099’s.
    • Please keep a copy of the settlement to provide to your tax professional.
  1. Grain applied to Open Storage can be transferred to the person or organization specified. Only open storage can be transferred as the producer still has ownership of that grain. Grain applied to delayed price, contract or cash cannot be transferred.
    • The storage charges will be charged to the producer prior to the transfer.
    • You are transferring ownership and therefore the donating producer cannot price the grain. The grain will be transferred from Open Storage to Open Storage and the new owner will begin storage charges on the day the ownership is transferred.

Summary of Changes

  • Updated Donation Policy
  • The final pricing date for Delayed Pricing Bushels was changed to October 13st 2023.
  • DPA Monthly charges for corn and soybeans will be at .05/bu/month
  • Storage charges will be .055/bu/month
  • Feed bank charges will be .05/bu/month
  • New Vision’s drying charge will be .05 per bushel for each point of moisture removed.
MOUNTAIN LAKE CLOSED - due to power outage at a substation.
Click on our Harvest Hours to keep up to date!
HARVEST HOURS
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