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| A lot of older farmers didn't understand it. I ended up helping them a lot. I bought and sold certs to help them out. I moved some that were within a day or 2 of expiration. They didn't know what to do with them.
Just to show how much money changed hands. I bought and sold enough for probably 1/2 of my customers I hauled for. I had one semi so not a huge volume. I charged no markup. I did run the money through an interest bearing checking account. I made a little over $5,000 on the float from that money in a year.
I also remember I was grateful for the Pik program. I had rented a farm for 65 bu to the acre. We didn't even combine it all. Corn was over $3 when the landlord wanted his corn. Thank the lord I had just gotten a bunch of certificates in the mail!
One other thing I remember that happened along about that time. All the elevators were full but they could sell the corn if it was damaged. Try explaining to an 80 year old farmer that he wants his corn to be bad so you can get rid of it!
Part of the storage program that year was to keep the corn on wheels. We were paid to haul corn away from the better markets. When we got there the only way they would let you unload is if you loaded back up ( or did the paperwork to show you did)
and take the corn to Council Bluffs. | |
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Can anybody tell me about the PIK program in the 1980's?
