Market Alerts Cash Bids Contact Us About Us Resources Corn Policies Market Data Weather Documents Corn Policies/Discounts Corn Policies - Effective October 1, 2021 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 Sale – Corn is delivered and priced against the current market. Credit-sale Basis Contract – 70% advance of the 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. Minimum Price Contract: The minimum price contract allows you to lock in a minimum price and still have the opportunity to take advantage of higher prices that may occur later. The seller chooses a strike price-from which we subtract a fee (the option premium)-and adds or subtracts the basis for the delivery month to determine the minimum sales price. When using the minimum price contract, the futures price must rise above the strike price by more than the premium cost for the seller to achieve a selling price that is greater than the minimum price. 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 at 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. 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. Deferred Payment: 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 you can 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 15% moisture 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: 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 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 Damage Discount 5.1% to 10.0% 2 cents per point 10.1% and over 3 cents per point, subject to rejection 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 15%moisture 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 above 15%. Other discountable factors include: 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 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 Damage Discount 5.1% to 10.0% 2 cents per point 10.1% and over 3 cents per point, subject to rejection 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* Download Our Mobile App Today © 2021 Barchart.com, Inc. All market data is hosted and powered by Barchart. Information presented is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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