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| First of all, read all the details of the contract to see if this is one of their policies. If it is, then there is nothing you can do but fill the contract. The way the market has been going up, I can see some farmers not delivering and taking it to another elevator for a much higher price but for me once I sign a contract I will deliver the full amount unless mother nature allowed me not to.
One thing to remember is this elevator will remember in the future, which farmers played dirty pool and didn't fill their contract and which farmers honored their contracts giving them a better name in their books. At least you know Bunge is going to pay you, imagine delivering your first 10000 bushels to an elevator and being paid but the second 10000 bushels the elevator declares bankruptcy and you get nothing. | |
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anyone herd of this (elevator)
