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Leesburg, Ohio | Grain has been traded since the beginning of time using dry bushels. Until now.
Just reconciling Cargill checks/tickets this evening, and noticed they apparently no longer calculate dry bushels on the tickets nor on the settlement sheets. They are now shrinking dollars instead of bushels. This change seems to have happened with the change to new crop.
I doubt there is a difference in net dollars doing it this way, but that dumps a whole lot more work on my desk to back out the bushel shrink on every field so we can compare inventory to sales and do crop insurance reports correctly. It also affects how they calculate contract bushels: Instead of filling a 5000 bushel contract with 5000 dry bushels, it now is considered filled with 5000 wet bushels.
What am I missing here?
Is this even legal?
Edited by KDD 10/18/2016 23:30
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Why did Cargill stop using dry bushels??
