Minnesota Soybean Processors Scholarship Essay

MnSP Vistive Soybean delivery period is scheduled for May 17th - June 11th. MnSP will call prior to delviery period with more details. MnSP will not be offering a Vistive Soybean Program for the 2010 crop year.

• Spot Market - 51 Bushels or more over contract price will be priced out at the market close of the following business day of unload. If overrun is less than 50 bushels it will be priced at the current contract price. Must contact a merchandiser (888-842-6677) to establish a price before the following day's market close.
• Price Later Charges - Effective January 1st, 2010 $0.10 per bushel dumping charge assessed for every load put on price later. Monthly charges will start January 1st and will be $.00133 per day ($.04 per month).
• All price later beans must be priced May 31st 2010 market close.
• When pricing Price Later soybeans, the nearby cash bid will be used and must be priced during trading hours.
• Price later beans may not be applied to existing cash contracts.
• Note: Under current FSA regulations, soybeans placed under MnSP's Price Later program are not eligible for LDP Payments after the day of delivery and are not able to participate in the CCC Marketing Loan Program.
• Soybean Grades and Discounts - Any soybeans not grading #1 Yellow are subject to the following discounts.
• Moisture: See attached sheet on moisture discounts. Soybeans over 15% moisture will be rejected and soybeans over 14% will be subject to rejection.
• Foreign Material: All foreign material in excess of 1% shall be deducted from the gross weight.
• All loads are graded and factored load by load. *Grades and moistures are not averaged.
• Samples that do not grade #1 Yellow Soybeans are kept for 14 days after delivery. The reinspection fee for the 2009-2010 marketing year is $8.00 per sample, paid by the seller.
• MnSP's Deferred Payment Contract - Producers wishing to defer payment on soybeans must return a signed copy of the deferred payment contract. Upon creation of the deferred payment contract, producers must choose which calendar year they wish to defer the payment to. Price later payments will be paid no later than January 9th, 2010. Checks will be mailed and will not be available for pick-up. There will not be a premium paid on deferred payment beans.

The Minnesota Soybean Processors of Brewster reminds you that you can always stay up to speed with what's going on with the current newsletter, the daily bids, information on price later and much, much more just by logging on to www.mnsoy.com or call us at (888)842-6677.