Yep, I have sold just over half of my 2013 crop so far. All the lentils are gone and half of the wheat. It's good to finally get a pay check!
|Lentils being loaded for delivery|
The lentils were contracted just prior to harvesting them. It took a few days to get a deal done because the elevator's buyer backed out at the last minute. But after a bit they found another buyer and I signed a contract. I wasn't sure exactly how much to contract because the crop hadn't been cut yet, so I was conservative on my estimate. In the end, I had contracted 70% of the crop pre-harvest.
About a month after they were in the bin, I was able to get them hauled to the elevator. The contracted lentils sold at $18.00 per hundred-weight and the excess lentils sold at $17.50. The samples collected by the elevator were sent to the state USDA lab, where they graded out as No. 1 quality lentils. Good news! Dockage was 1.7%, while defects & foreign material were 0.9%. Overall I was very happy with the results.
|Wheat on the way to the elevator|
I contracted the wheat crop after it was in the bin. Half of the crop sampled out at 12.5% protein, so I contracted those bushels on a 12-protein bid at $6.47 that a local elevator just happened to have out. Delivery was due in November, but due to rail issues the elevator couldn't take them until December. Just like the lentils, samples were sent for analysis. Weight was just under 62 lbs, protein was 12.36%, and dockage just over 0.3%. Again, I was very happy.
The last half of the wheat crop is contracted for delivery this month. I'm looking forward to getting it hauled off, so I can have the 2013 crop gone and be ready to fill the bins again in 2014.
It's great to have a Payday!