Oct/Nov wheat not picked up until December

[tr250]

I’ve got some Oct sold wheat not collected but agreed with merchants to add £1 a ton and make it Nov movement so all fine but now got 4 loads of November that’s not going to be collected till December meanwhile the price has gone up about £8 a ton what would be my rights? I was happy with the price on the day but they haven’t stuck to the contract terms. Would you shut up and take it or not?

 

[Billboy1]

Got to ask for some of the uplift surely ?

 

[tr250]

Got to ask for some of the uplift surely ?

Obviously their not that keen on that idea but I’ve told them to go away and speak to end user and come back to me with an offer

 

[Sid]

Got to ask for some of the uplift surely ?

Would you as for some of the downward shift as well if the price dropped?

 

[deleted user 837354]

I’ve got some Oct sold wheat not collected but agreed with merchants to add £1 a ton and make it Nov movement so all fine but now got 4 loads of November that’s not going to be collected till December meanwhile the price has gone up about £8 a ton what would be my rights? I was happy with the price on the day but they haven’t stuck to the contract terms. Would you shut up and take it or not?

You can't expect them to match a price uplift, you can probably expect a carry though depends on the relationship with your buyer.

 

[essexpete]

How does the grain world work? If you agreed a price for delivery in a certain month when do you get paid? What happens if you intended another use for the store after the original delivery time?

 

[Billboy1]

Would you as for some of the downward shift as well if the price dropped?

Don’t ask don’t get ?‍

 

[farenheit]

Would you as for some of the downward shift as well if the price dropped?

Well usually the seller isn't late picking it up.

 

[Surgery]

I’ve got some Oct sold wheat not collected but agreed with merchants to add £1 a ton and make it Nov movement so all fine but now got 4 loads of November that’s not going to be collected till December meanwhile the price has gone up about £8 a ton what would be my rights? I was happy with the price on the day but they haven’t stuck to the contract terms. Would you shut up and take it or not?

Easy , you sold it to go a certain month , they haven’t-won’t pick it up , pay what it’s worth or don’t have it and sell to someone else.

 

[B'o'B]

Read the sales contract very carefully before you seriously consider re-selling.

 

[uztrac]

Read the sales contract very carefully before you seriously consider re-selling.

I agree,with litigation costs running at around £ 500 per hour is it worth the hassle?

 

[milkloss]

Would you as for some of the downward shift as well if the price dropped?

Well if they couldn‘t be ar5ed to pick it up within contract date then I think he is fair expecting an uplift of some sort. I would understand your comment if he sold it without a dated window for collection.

 

[d williams]

I’ve got some Oct sold wheat not collected but agreed with merchants to add £1 a ton and make it Nov movement so all fine but now got 4 loads of November that’s not going to be collected till December meanwhile the price has gone up about £8 a ton what would be my rights? I was happy with the price on the day but they haven’t stuck to the contract terms. Would you shut up and take it or not?

They offer any store costs??

 

[Cowslip]

Same problem here, I want to get the cows in but have machinery in their shed as grain still in grain store. Been chasing for weeks now?

 

[tr250]

Thanks for the replies I’ve spoken to merchant this afternoon and agreed £2 a ton uplift should all be gone by the 10th dec and immediate payment. We are desperate for space for machines so that’s the main concern

 

[B'o'B]

Thanks for the replies I’ve spoken to merchant this afternoon and agreed £2 a ton uplift should all be gone by the 10th dec and immediate payment. We are desperate for space for machines so that’s the main concern

It’s good to talk!

 

[solo]

I understood from my merchant this week, that there is plenty of wheat about and the December bookings are full, hence they were offering £2 more for January and then the usual £1 carry to February. All my bookings from a year ago for November movement have been cleared a week ago, so it seems I was either lucky or I have a good merchant

 

[Courier]

Same problem here, I want to get the cows in but have machinery in their shed as grain still in grain store. Been chasing for weeks now?

The machinery can go outside for a week or two - Not ideal but when cattle need to be in they need to be in.....

Many don't have the luxury of a machinery shed....

 

[Brisel]

They offer any store costs??

Yes, £1/t/month. It would be worth reading the contract you agreed - IIRC there's a facility to roll forward at £1/t/month if mutual agreement. Unsurprisingly, the AIC contracts used as standard by the trade give the trade quite a bit of flexibility...

Thanks for the replies I’ve spoken to merchant this afternoon and agreed £2 a ton uplift should all be gone by the 10th dec and immediate payment. We are desperate for space for machines so that’s the main concern

Good result. I guess that's a merchant you'll be doing future business with?

I've got an October malting barley contract that is being rolled as it was a feed base + premiums. There was hardly any premium in the market so they offered to roll it forward. I didn't need the space nor cashflow so have been happy to do so. We talk to each other regularly.

 

[D14]

I’ve got some Oct sold wheat not collected but agreed with merchants to add £1 a ton and make it Nov movement so all fine but now got 4 loads of November that’s not going to be collected till December meanwhile the price has gone up about £8 a ton what would be my rights? I was happy with the price on the day but they haven’t stuck to the contract terms. Would you shut up and take it or not?

Theres not contract so sell it again to them as they have forfeited.