When we used the old batch driers you could dry corn from 20% to 14% for about 30-35 cents per bushel cost for electric and $1.50 propane. You still will have the shrinkage. That usually figures about 1.1% per point of moisture.
Most continuous flow dryers require a cooling bin and that had better have a good air floor. You will have more drying capacity with them set to continuous but you can have trouble with cooling the corn in a bin.
A batch dryer that drys and cools is the simplest but will be slower than a continuous dryer but your corn is done when it comes out.
A tower dryer is the best drying system but they are not cheap and I do not know of small ones.
When drying corn there is more involved than just the dryer. You need to get the corn into the dryer and out of it an into storage. This takes more equipment. Also how much electric capacity do you have??? A drying system can easily take 200 amps plus. Mine uses every bit of 400 amps.
Good friend uses a PTO driven GT (Gilmore and Tate) brand batch dryer. He drys 500 bushels in about 2 hours. His cost in diesel and propane runs about 40 cents per bushel to take out 6 points. The dryer has a loading auger on the rear and dumps out a spout on the top. He spots a wagon to empty the dryer into and has a electric drive auger to take the grain into his machine shed to store the corn on a concrete pad. He dries the corn to 13.4-14% and does not have aeration. He gets by fine storing until late the following spring or early summer at the latest.
Drying corn does not just involve the cost of electric and propane. It takes time and effort to watch the dryer and keep everything working. So unless you have bins, augers, and good electric service you will find the total cost of drying is more than your think. You need to think about your time management while harvesting to see if a dryer will work for you.
I started out drying with a PTO dryer and then in bin drying with stirators. Then a batch dryer and now a tower dryer. One common issue with them all. LABOR/time. I have spent many nights sleeping a few hours at a time while watching a drying system work.
So the elevator may not be as "high" as you think when you figure all the cost.
Lets figure 5 points moisture, 5.5% shrink, on $4 corn That is 22 cents. Then propane and electric at 30 cents. So you have 52 cents per bushel without any labor. So the elevator at 12 cents per point times 5 equals 60 cents is not much higher, if they do not charge shrinkage as well. Actually if you count labor and maintenance it would be a wash.
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