PCE Cash Bids
Floydada
Name Delivery Start Basis Month Basis Cash Price Futures Change Futures Price Location Notes

Quotes retrieved on September 25, 2018, 11:38:31 AM CDT
Grain Policy

Cash Prices Shown May Not Reflect Actual Cash Price At All Times

Please call 806-983-2821 for the most accurate cash bids on grain!! 

 

2018 Wheat Docking Schedule 

 

Moisture

1.8% per point of moisture over 13.5%.

Each load will stand on its own. Loads 16% moisture or higher may be subject to rejection. Please call ahead if delivering wheat 16% or higher for us to check availability to handle it.

Dockage & Foreign Material

Dockage and foreign material (combined value) will be deducted by weight on each load, and a monetary discount will apply for loads with 1% dockage & foreign material or higher. (See table below) Foreign Matter such as Rye, Triticale, and grains other than wheat are considered FM, and any amounts found may be subject to refection. If able to dump, sample will be sent to get official grades and the FM value will be added with the dockage to determine the final value of discounts to apply.

                                    0-.9 = No Discount                  4.0-4.4 = $.25/bu

                                   1.0-1.4 = $.04/bu                    4.5-4.9 = $.30/bu

                                   1.5-1.9 = $.06/bu                    5.0-5.4 = $.36/bu

                                   2.0-2.4 = $.09/bu                    5.5-6.9 = $.42/bu

                                   2.5-2.9 = $.12/bu                    6.0-6.4 = $.49/bu

                                   3.0-3.4 = $.16/bu                    6.5-6.9 = $.56/bu

                                                          3.5-3.9 = $.20/bu                                                    

Test Weight

Test Weights will be docked on a per load basis.

                                  59.9-59 = $.0.3/bu                  58.9-58 = $.06/bu

                                  57.9-57 = $.09/bu                   56.9-56 = $.12/bu

                                  55.9-55 = $.19/bu                   54.9-54 = $.26/bu

                                  53.9-53 = $.33/bu                   52.9-52 = $.40/bu

                                  51.9-51 = $.47/bu                   50.9-50 = $.54/bu

                        $.12/bu discount each pound for test weights lowers than 50lbs.

Other Discounts

                                                       Infested = $.20/bu

                                                     Musty/Sour = $.20/bu

                                                         COFO = $.40/bu

                                                       Smutty = $.75/bu

 

Fall Grain Discount Policy

Corn

Moisture: Shrink starts at 15.6%. Loads may be rejected at 19.5% and wetter. Call before bringing loads 19.5% or wetter. Each load stands on its own.

Test Weight: Dock for Test weight begins at 53.9lbs. Loads below 52lbs@15.5% moisture or drier may be subject to rejection.

 

Milo/Grain Sorghum

Moisture: Shrink starts at 14%. Max moisture is 17%. Call before bringing loads 17% or higher. Each load stands on its own.

Test Weight: Dock for Test Weight begins at 54.9lbs. Loads below 52lbs may be subject to rejection.

 

Elevator Locations
Forward Contracting Grain
FAQ About Forward Contracting Grain
  1. What is the smallest amount of grain I can contract? (5,000 bu.=1 futures contract)
  2. Once I contract....do I have to deliver? (Yes...Or pay costs associated with getting out of contract.) 
  3. Can I lock in a basis? (Yes...you can essentially have a "basis only" contract and you will have the ability to lock in a futures price to go along with your basis. Needs to be in 5,000bu increments.)
  4. Can I forward contract close to harvest time or during harvest if I think the markets will fall? (Yes...you can for estimated delivered bushels. You still have to deliver the grain you contract. Wheat during harvest has more risk due to hail out.)
  5. Can I lock in a futures only contract? (Yes...same theroy as the basis only contract, just with futures instead of basis.)
  6. What happens if I contract and the market goes up? (You are still committed to the contract price that you agreed to...no mulligans, or do-overs.)
  7. What is the largest amount that I can contract? (Typically it is no more than 50% of a conservative estimate of what your crop will produce on the acres you plant. It also has to do with the relationship you have with the coop. There is ALOT of trust that has to be demonstrated on both sides for forward contracting to work. There isn't a bank I know in our area that would tell a producer to forward contract more than 50% of your crop. If they are telling you that....you need to find a new banker.)
  8. Is there an Act of God Clause in the contract? (No....When we take a position to hedge (sell futures/sell grain) there are no "Act of God" clauses in either of our hedge options. We can't offer terms that we don't get in return.