I signed a minimum price contract for 5000 bu of soybeans with them back about 10 years ago.
In March the price was set at 5.60 a bushel for fall delievery.If the average price was higher June thru Aug i would get 1/2 the increase and they would get half.
The average was 25 cents higher so I should get 12.5 cents more,right? Wrong
In fine print at the bottom of the contact it stated that they got the first 20 cent increase for writing the contract. Which was never mentioned at signing time. So I got an extra 2.5 cents.
There were 25 or so guys at this meeting where they explained the contract and everyone of us got screwed over. None of us knew about the 20 cent writing fee when we signed.
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