United Western Coop


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GRAIN HANDLING PROCEDURES, DISCOUNTS AND RATES
SEPTEMBER 2012
Grades will be averaged on: moisture, test weight, foreign material and damage from one farm or from one bin. Discounts on musty or insect damaged grain will be applied on each load individually. Soybean moisture 14% and under will be averaged as one lot. Soybean moisture 14.1% and over will be averaged as one lot. Storage charges or service charges will start from the weighted average date of delivery. If grain is sold for cash within 10 days after delivery of last load per farm, (within a maximum of 15 days from any load delivered), there will not be a storage charge. All grain delivered to United Western Coop shall be considered stored unless the producer indicates such grain is to be applied to a contract or priced when delivered. The producer retains title and beneficial interest until the grain is applied to a contract. When the delivery is completed, grain will be applied to open contracts in sequential order. When grain is sealed in the elevator, the storage and drying must be paid in advance (approx 9 months).

	PRICE LATER	RECEIPT
CORN
Minimum Rate	16 cents/90 days	15 cents/90 days
Rate After Minimum	3.6 cents/bushel/per month	0.0014 cents/bushel/per day
Moisture	15%	14%
Shrink	Shrink will be 1.4% for each 1% moisture and will be calculated at .7% for each 1/2 percent of moisture or fraction thereof. Shrink is deducted from the bushels delivered.
Drying	Drying cost will be 4.5 cents/point, calculated per 1/2 percent of moisture or fraction thereof up to 20%. Drying costs will be 5 cents/point, calculated at 2.5 cents per 1/2 percent of moisture or fraction thereof from 20.1% to 25% moisture.
Billing of Drying Charges	Drying charges will be deducted as grain is sold from the Price Later.	Drying charges will be billed to your monthly statement upon processing of the receipt.
Discounts	see postings in local coop	see postings in local coop

SOYBEANS
Minimum Rate	15 cents/90 days	15 cents/90 days
Rate After Minimum	3.6 cents/bushel/per month	0.0014 cents/bushel/per day
Moisture	13%	13%
Discounts	see postings in local coop	see postings in local coop

GENERAL INFO
Forward Contracting	You can forward contract for any month, at any time throughout the year.	You can forward contract for any month, at any time throughout the year.
Expiration Date	PLC's expire on 8/29/13 at 11:00a.m.	No expiration. A billing statement will be sent for storage after 1 year if grain is not sold.
Grain Title	Title of grain transfers to UWC and the Coop can store, sell or ship the grain at its descretion.	Producer retains title and benefical interest until grain is applied to a contract or sold.
Payment	Payment will be withheld until signed contract is received in Missouri Valley.	Payment is immediately processed.

All grain checks are issued from the Missouri Valley elevator office and can be mailed or picked up. Direct deposit is available and money will be deposited into your checking or savings account. Grain may also be sold to a deferred payment contract. Deferred payment will be made in the month of your choosing, providing the contract has been signed and received in Missouri Valley.

All Terms and Procedures Subject to Change