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| The crop that is in the bins is not owned by the coop/elevator so it cannot be sold. They are charging monthly storage to the owner of the grain. They will need to either offer price later since price later the title of the grain is transfered to the grain company. There is carry in the market so depending on the local basis to buy corn looking at spreads and what can be sold in the future less interest there is likely money to be made there. I bet you will see higher price later charges coming as an option for delivering corn and not establishing the price of it. There is nothing fishy there, its an urban legend that grain businesses are somehow "in the know" for the future. These elevators likely did not charge enough at the beginning of storage rates being established or have patrons with such deep pockets it doesn't matter. The bushels in storage likely just got a whole new charge of initial storage charges. | |
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No storing at elevator
