IowaLocationsGeneralGrainPolicies-RiverValleyCoop.pdfVIP

Iowa Locations General Grain Policies Revised September 20, 2016 GRAIN DISCOUNTS All grain will be discounted on a load by load basis. Each load will be probed in order to get a representative sample. If necessary pit samples may be taken and any load found to contain excessive variations in any grade factor will be graded per the higher grade. The current scale of discounts will apply. The seller has the option of requesting official grades by a federal grain inspector on any contested sample. The seller shall stand all costs of such grades and these grades will be final. OPEN STORAGE Grain delivered into an RVC facility can be held in open storage for 5 market days without incurring any storage fees. After 5 days grain that has not been sold will be considered as storage and charged applicable storage charges. The 5 day open cannot be used as a grace period to carry grain to cover a contract commitment for a future month delivery. CASH SELLING Grain that is delivered and sold as “spot” will be priced using the closing price at the end of the day unless otherwise specified. Other contract alternatives: Basis Contracts: Initiation Fee: 0 Rolling Fee: 2 cents/bushel per roll HTA Contracts