IMPORTANT INFORMATION FOR PRODUCERS
I. MERCHANDISING YOUR GRAIN with AGrowStar
A. Create An Account
In order to merchandise grain with AGrowStar, each producer must have a valid account - IN ADVANCE OF grain being delivered to one of our locations. At least 2 business days are required from the date of submission of your information in order to complete the account setup. NO PAYMENTS WILL BE MADE UNTIL ACCOUNT SETUP IS COMPLETE.
Please see the home page menu section entitled "News/Forms" for the Producer Information Forms. These forms and a Form
W-9 (which can also be found at www.irs.gov )must be completed, signed and on file at AGrowStar BEFORE your account can be created. Any subsequent changes to this information must be submitted in writing to the accounting office. IF you wish to have information about your transactions with AGrowStar disclosed to any 3rd party, you must have a signed release form on file with us.
B. Making A Contract
1. When you contract with one of AGrowStar's grain purchasing merchants, please be aware that verbal contracts are binding.
2. A paper contract confirmation is mailed to you; we kindly request that you sign and return one copy to us upon receipt.
3. Should you find a discrepancy or have any questions regarding your contract confirmation, please call us immediately.
C. Unpriced Contracts
1. Unpriced contracts must be priced by the date your grain is delivered or the expiration of the applicable futures month - whichever comes
first.
2. Unpriced contracts will not be rolled forward unless agreed upon in advance by our purchasing team.
D. Spot Priced Loads
1. Our spot price changes daily at 2:45 p.m. upon the final close of the Chicago Board of Trade; the spot price is the posted bid basis plus
the final closing futures.
2. Loads delivered to our elevators that are immediately sold "on the spot" are given the spot price in effect at the time of delivery.
E. Contracted Loads
1. If you have a contract with AGrowStar, delivered grain is applied first to the balance of the oldest open contract - PROVIDED THAT THE
GRAIN MEETS THE QUALITY STANDARDS STATED IN THE CONTRACT.
2. If you deliver more grain than you have contracted, remember that bushels over the contract balance are coded as D.P. (deferred pricing)
unless you give alternate instructions in advance of the load being delivered. Please see the section below entitled, "SETTLEMENTS" .
F. Direct-Ship Loads
1. For loads picked up from your farm, we are glad to verify contract balances to the best of our ability; however, there will usually be a waiting
period of at least 7 to 10 business days before your settlement can be processed due to the unavoidable time delay between your
shipping the load from your farm and our receiving all of the corresponding paperwork for those loads from drivers and destination
processors.
2. We encourage you to keep a personal record of the loads shipped from your farm so that your loads can be properly identified when we
receive settlements; important information for you to note is the date and time of shipment and the name of the driver and the trucking
company.
G. Difficulty With Delivery
1. We understand that many circumstances can prevent or delay your ability to fulfill your contract. If you have difficulties meeting your delivery
obligations before the expiration date of your contract, please call us immediately so that we may work with you to make appropriate
arrangements.
II. SCALE TICKET INFORMATION
A. YOU are responsible for checking your copy of each scale ticket for information accuracy BEFORE the next business day.
B. Corrections or changes regarding names, Farm ID numbers, pricing codes, etc. must be brought to our attention BEFORE 8:00 a.m.
the next business day.
C. Farm ID numbers can be programmed in our computer to assist you with production history reports; however, you must notify us PRIOR
to harvest in order for the Farm ID numbers to be included. Also, each load must have the correct Farm ID# written on the corresponding
ticket at the time of delivery.
D. A processing fee will be charged to make changes to posted items if corrections are not brought to our attention by 8:00 a.m. on the
day after delivery.
III. SETTLEMENTS
A. Price Code At The Time Of Delivery
1. Unless arrangements are made prior to delivery of the load (i.e. a contract or agreement to spot sell loads), all loads will be coded as D.P.
(Deferred Pricing).
2. Grain coded as D.P. will be priced only DURING regular CBOT market hours, Monday-Friday, 10:30 a.m. to 2:15 p.m.
3. Storage fees will be $0.05 per bushel per month. The storage charges begin on the 31st day after delivery for all commodities.
B. Printing Of Settlement Checks
1. You must notify us when you are ready for a settlement check; we do not automatically print a check for any grain delivered to us.
2. Settlement Checks are printed every MONDAY, WEDNESDAY, and FRIDAY for any loads delivered prior to those days; we kindly ask
that you notify us BEFORE 11:00 a.m. if you desire to have a settlement check printed on the next available settlement day.
3. Settlement checks are available for pickup at 8:00 a. m. on the morning FOLLOWING the day they are scheduled to be printed.
C. Delivery Of Settlement Checks
If you do not specify that your check be mailed when it is printed, it will be safely retained in the accounting office until you can come to our office.
Thank You for your patience and cooperation in assisting us to serve you as efficiently as possible.
