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Important 2020 Marketing Program Dates

This brochure contains only highlights. Please contact your Riceland drier manager for complete marketing program details. 

Please note the following dates and program details:

  • June 30, 2020, is the sign-up deadline for committing rice for participation in Riceland’s marketing programs.
  • October 30, 2020, at noon is the closing date for both Long Grain and Medium Grain Members Seasonal Rice Pool.
  • October 30, 2020, at noon is the deadline to price or transfer rice in Grower’s Option to avoid price-later charges.
  • November 2, 2020, at noon is the closing date for the soybean seasonal pool.
  • November 2, 2020, at noon is the deadline to price or transfer soybeans in Grower’s Option to avoid price-later charges.
  • April 30, 2021, is the deadline for pricing rice in Grower’s Option.
  • April 30, 2021, is the deadline to deliver farm stored Growers Option rice.
  • May 28, 2021, is the deadline for pricing soybeans in Grower’s Option.
  • May 28, 2021, is the deadline for delivering farm stored seasonal pool rice.• May 28, 2021, is the deadline for delivering farm stored seasonal pool soybeans.

Rice Programs

Rice Marketing Programs

 

Riceland’s 2020 marketing programs are open only to rice which has full food and feed approval worldwide.

Long grain rice may be marketed through any program. Medium grain rice may be marketed only through the Members Seasonal Pool.

To participate in Riceland’s Members Seasonal Pool, Booking Contracts, Hedged-to-Arrive Contracts, Basis Contracts, Member Cash Purchase, or Grower’s Option, a grower must sign a 2020 Delivery Agreement by June 30, 2020. Growers who choose not to sign a Delivery Agreement may deliver to a Cash Purchase or booking program, as available.

2020 Drying Charges

The board of directors reserves the right to modify drying charges based on operating expenses. 

Moisture

Thru 13.5%
13.6 thru 18.9%
19.0 thru 21.9%
22.0% or more

Cents Per Bu.

30
36.5
43
60

Members Seasonal Pool (Long Grain)

For members who sign a Delivery Agreement by June 30, 2020, and who desire to market long grain rice through a seasonal marketing pool. The seasonal pool will close at noon, October 30, 2020.

Participation Qualifications
Limited to Riceland members of record who sign a Delivery Agreement by June 30, 2020.

Quality
Grading based on U.S. standards, except for stain and heat damage. Limited to Grade 5, or better. Subject to discounts below Grade 2. Rice below Grade 5 will be handled on a special purchase basis at management’s discretion.

First Advance
The first advance will be set prior to harvest.

Other Seasonal Pools
The board of directors reserves the right to close the initial pool and/or open other pools with different advances based on market factors.

Farm-Stored Rice
For members who wish to store rice for delivery to the Members Seasonal Pool after harvest, Riceland will arrange for transport of rice from the farm to a directed receiving point and will pay members 10 cents per bushel for storage following delivery. Rice will be advanced at 90 percent of measured bin weight. Members who have signed a Delivery Agreement and wish to use farm storage must declare their intent to participate in the Members Seasonal Pool by noon October 30, 2020. Farm stored seasonal pool rice not delivered by April 30, 2021, will not receive an additional advance until it is delivered. Farm stored seasonal pool rice must be delivered by May 28, 2021.

Accounting
Members Seasonal Pool (Long Grain) is handled on a patronage basis and subject to the Base Capital Plan.

 

Members Seasonal Pool (Medium Grain)

For members who sign a Delivery Agreement by June 30, 2020, and who desire to market medium grain rice through a seasonal marketing pool. The seasonal pool will close at noon, October 30, 2020.

Participation Qualifications
Limited to Riceland members of record who sign a Delivery Agreement by June 30, 2020. Quality Grading based on U.S. standards, except for stain and heat damage. Limited to Grade 5, or better. Subject to discounts below Grade 2. Rice below Grade 5 will be handled on a special purchase basis at management’s discretion.

First Advance
The first advance will be set prior to harvest.

Other Seasonal Pools
The board of directors reserves the right to close the initial pool and/or open other pools with different advances based on market factors.

Farm-Stored Rice
For members who wish to store rice for delivery to the Members Seasonal Pool after harvest, Riceland will arrange for transport of rice from the farm to a directed receiving point, and will pay members 10 cents per bushel for storage following delivery. Rice will be advanced at 90 percent of measured bin weight. Members who have signed a Delivery Agreement and wish to use farm storage must declare their intent to participate in the Members Seasonal Pool by noon October 30, 2020. Farm stored seasonal pool rice not delivered by April 30, 2021, will not receive an additional advance until it is delivered. Farm stored seasonal pool rice must be delivered by May 28, 2021.

Accounting
Members Seasonal Pool (Medium Grain) is handled on a patronage basis and subject to the Base Capital Plan.

 

Forward Booking Contracts

A booking opportunity for members who sign a Delivery Agreement by June 30, 2020, and who desire to book long grain rice based on futures prices, adjusted for Riceland’s basis. Contracts must be in 2,000 cwt. (4,444 bu.) dry weight increments.

Limitations
Program offered on a first-come, first-served basis and may be limited to avoid concentration of risk.

Quality
Grading based on U.S. standards, except for stain and heat damage. Limited to Grade 5, or better. Subject to discounts below Grade 2. Minimum milling yield 48/65. *

Pricing
Based on futures pricing, subject to confirmation. Milling yield basis 55/70, premiums/discounts apply.

 

Hedged-to-Arrive Contracts

For Members who sign a delivery agreement by June 30, 2020, who desire to deliver long grain rice and set the futures component of the contract while fixing the basis at a later date.

Limitations
Long grain rice must be booked in 2,000 cwt. (4,444 bu.) increments. Futures month for contract must coincide with the month of delivery. The basis must be set by delivery, or by the First Notice Day of the futures contract, whichever occurs first. These contracts cannot be rolled from one futures month to the next or from one marketing year to the next. Fees may be charged for hedged-to-arrive contracts to offset costs. All contracts must be priced by noon April 30, 2021. Program may be limited to avoid concentration of risk.

Quality
Grading based on U.S. standards except for stain and heat damage. Limited to grade 5, or better. Subject to discount below grade 2. Minimum milling yield 48/65.*

Pricing
Based on futures pricing, subject to confirmation. Milling yield basis 55/70, premiums/discounts apply.

Basis Contracts

For members who sign a Delivery Agreement by June 30, 2020, and who desire to deliver long grain rice and set a basis at the current posted level for the delivery period while fixing the futures component at a later date.

Limitations
Long grain rice must be booked in 2,000 cwt. (4,444 bu.) increments. Basis must correspond with the delivery period. Futures must be set prior to or by the roll date of futures contract or rolled to the next futures month. A positive futures spread at time of roll will result in a weaker basis. All contracts must be priced by noon April 30, 2021.

Roll Dates

Priced By:

August 28, 2020
October 29, 2020
December 30, 2020 February 25, 2021 

OR

Rolled To:

November 2020
January 2021
March 2021
May 2021

Program may be limited to avoid concentration of risk.

Quality
Grading based on U.S. standards except for stain and heat damage. Limited to Grade 5, or better, subject to discounts below Grade 2. Minimum milling yield 48/65.*

Member Cash Purchase

 

For members who sign a Delivery Agreement by June 30, 2020, may sell green or dry long grain rice upon delivery, subject to confirmation.

Limitations
Program offered on a first-come, first-served basis and may be limited or terminated to avoid concentration of risk.

Quality
Grading based on U.S. standards, except for stain and heat damage. Limited to Grade 5, or better. Subject to discounts below Grade 2. Minimum milling yield 48/65.*

Accounting for Rice Self-Pricing Options
Patronage: Any patronage earnings from 2020 long grain member cash purchases or self-pricing contracts will be distributed to patrons with 20 percent in cash and 80 percent in qualified written notices of allocation evidenced by the issuance of Class “A” capital stock.

Grower's Option

Available depending on space and limited to growers who have signed a Delivery Agreement by June 30, 2020. Allows growers to deliver long grain rice and choose a marketing option later. Rice must be priced or transferred to the Members Seasonal Pool by noon October 30, 2020, to avoid price-later charges. Rice remaining in Grower’s Option after noon October 30, 2020, will be subject to a minimum price-later charge of 6 cents per bushel and 3 cents per bushel per month thereafter beginning January 1, 2021. Rice remaining in Grower’s Option after October 30, 2020, will not be eligible for transfer to the Members Seasonal Pool.

Rice remaining to be harvested within 10 calendar days of October 30, 2020 or after, will be entitled to a 10 calendar day period with Grower’s Option from date of delivery without a price-later charge or may transfer to the Seasonal Pool. Farm stored Grower’s Option rice must be delivered by April 30, 2021. Grower’s Option may be limited at any or all locations to avoid concentration of risk.

Pricing Deadline
Rice placed in Grower’s Option may be priced under any available purchase program through noon, April 30, 2021. Rice not priced by noon April 30, 2021, will be marketed during May 2021.

Grower’s Option Advance
After the Grower’s Option deadline has passed, members with rice in Grower’s Option stored at a Riceland facility or on the farm may request an advance which will be set prior to October 30, 2020. To participate, rice must remain eligible for CCC loan at the time of delivery. Rice will be advanced at 100% of adjusted weight if stored at Riceland facility or at 90% of measured bin weight if stored on the farm. Partial lot pricing is not allowed. Rice must be delivered and priced by April 30, 2021. Advances may be limited or terminated to avoid concentration of risk.

Quality
Grading based on U.S. standards, except for stain and heat damage. Limited to Grade 5, or better. Subject to discounts below Grade 2.

Cash Purchase

Riceland reserves the right to procure green or dry rice as needed on a non-patronage basis.

*Rice with a milling yield below 48/65 will be accepted on a special purchase basis at management’s discretion.

Soybean Programs

Riceland’s 2020 marketing programs are open only to varieties that have full food and feed approval worldwide.

Soybean Seasonal Pool 

Available to Riceland members with no sign-up required. The first advance will be set prior to harvest. The Seasonal Pool will close at noon, November 2, 2020. The board of directors reserves the right to close the initial pool at any time and to open one or more additional pools.

Farm-Stored Soybeans

For members who wish to store soybeans for delivery to the soybean Seasonal Pool after harvest, Riceland will arrange for transport of soybeans from the farm to a directed receiving point, and will pay members 10 cents per bushel for storage following delivery. Soybeans will be advanced at 90 percent of measured bin weight.

Members who wish to use farm storage must declare their intent to participate in the soybean seasonal pool by noon November 2, 2020.

Farm stored seasonal pool soybeans not delivered by April 30, 2021, will not receive an additional advance until delivered. Farm stored seasonal pool soybeans must be delivered by May 28, 2021.

 

Cash Purchase

Available at soybean delivery locations for growers who wish to sell upon delivery.

Forward Booking Contracts

Forward booking prices for a minimum of 500 bushels of soybeans are available through harvest at soybean delivery locations.

Grower's Option

Available, depending on space, to allow growers to deliver and price later. Soybeans must be priced or transferred to the Seasonal Pool by noon November 2, 2020, to avoid price-later charges.

Soybeans which remain in Grower’s Option after noon November 2, 2020, will be subject to an initial price-later charge of 10 cents per bushel and 5 cents per bushel per month for each month thereafter beginning January 1, 2021. Soybeans remaining in Grower’s Option after noon November 2, 2020, will not be eligible for transfer to the Seasonal Pool.

Soybeans remaining to be harvested within 10 calendar days of November 2, 2020 or after, will be entitled to a 10 calendar day period with Grower’s Option from date of delivery without a price- later charge or may transfer to the Seasonal Pool. Soybeans placed in Grower’s Option may be priced under any available purchase program through noon May 28, 2021. Soybeans not priced by noon May 28, 2021, will be marketed during June 2021.

Grower’s Option may be limited at any or all locations to avoid concentration of risk

 

Basis Contracts

Allows the basis to be set at the current posted level for the delivery period while fixing the futures component at a later date.

Limitations
Basis must correspond with the delivery period. Futures must be set prior to or by the roll date of futures contract or rolled to the next futures month. A positive futures spread at time of roll will result in a weaker basis. All contracts must be priced by noon May 28, 2021.

 

Roll Dates

Priced By:

October 29, 2020
December 30, 2020 February 25, 2021  
April 29, 2021    

OR

Rolled To:

January 2021
March 2021
May 2021
July 2021

Program may be limited to avoid concentration of risk.

Hedged-to-Arrive Contracts

Subject to available storage space. Futures month for contract must coincide with month of delivery. Basis must be set prior to delivery, at delivery, or by First Notice Day of the futures contract, whichever occurs first. Contracts cannot be rolled from one futures month to the next or from one marketing year to another. Contracts may not be offered after noon November 27, 2020. Fees may be charged for hedged-to-arrive contracts to offset costs. Program may be limited to avoid concentration of risk.

Soybean Programs Accounting
Seasonal pool handled on patronage basis and subject to the Base Capital Plan. Soybeans marketed through self-pricing programs handled on a non-patronage basis, not subject to the Base Capital Plan.

 

Supplemental Marketing Agreements

Withheld Funds – Patrons who wish to defer crop payments into the next tax year must sign Supplemental Marketing Agreements prior to:

     1) Actual delivery, or

     2) Constructive receipt of funds.

No partial cancellation of withheld funds designations will be allowed.

Withheld funds payments will be processed and paid as soon as practical during the first week of January 2021.

Receiving & Storage Locations

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