Posted by c-man on October 31, 2010 at 18:34:14 from (69.77.197.54):
In Reply to: Grain contracts posted by Reid1650 on October 31, 2010 at 16:56:01:
We had a guy come into our area several years ago and he was going to show everybody around here how easy it was to make a fortune in farming. Long story short, his farm sale was last spring. One of his downfalls was that he was doing everything by the book, which works if everything goes like the book says it will. "The book" forgot to tell about what happens when it doesn't rain at the right time. Anyway he came up many, many bushels short on his contracted wheat. The elevator let him, with a monetary penalty, deliver the rest of the wheat the following year, which he barely had enough to cover then. I don't know how much it cost him, but that may be an option for you, pay a small amount and roll your contract over to next year. BTW this guy was a stock broker!!
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