Posted 2/20/2021 17:25 (#8847149 - in reply to #8846050) Subject: LOL. Showing my age here.
When I first started farming, practically EVERY elevator handled grain with back to back sales. They wouldn’t dream of selling ANY grain until they had it bought. If a farmer wanted to carry high priced grain to next summers low, they sat back and collected storage. They operated on seven to ten cent margins on corn, a bit more for beans.
Fortunately, my dad HATED local elevators, and was able to purchase ownership stock in an Illinois River terminal elevator, got a grain bin dealership, and so my summer jobs were putting up hay in the afternoon and grain bins in the morning. We got terminal bids, plus we got paid for delivering our grain to the terminal.
In the seventies, I can remember literally driving loaded past the local elevator with a half mile of grain trucks lined up, and coming back empty with the same trucks still in line. Dad never approved of much of my farming decisions, but he loved my grain complex. At 86, he was gophering around a 168,000 bushel bin my son and I were putting up, happy as a lark.