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| In the fall, I deliver wet corn to an elevator. They charge me for drying and shrink. Dry down to 15% to sell, and 14% to store. The shrink is 1.4% per bushel per point.
The first scam is the shrink. If I dry the corn in my own dryer, it does not shrink 1.4%/bu/pt. Indeed, the general manager has even stated that they always end up with more physical corn than what they should have on paper because of the shrink factor. But I don't have the capacity to dry and store all of my corn, so I have to agree to being scammed with the bushels I deliver to them.
The second scam is that the elevator charges me for drying down to 15% even though they don't really dry it down at all since the ethanol plant will accept corn up to 17% moisture. They blend my 18+% corn with someone else's dry corn and ship it off to the ethanol plant. Or if my corn is only 16-17%, they still charge me for drying down to 15% even though they don't dry it at all!
So they are charging me for a service that they never provide. I feel like that is a scam, but oh well. I'll be dead someday, and none of it will matter anyway.
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Scam stories
