The Condo Storage program effectively gives the producer permanent ownership of bin space that can be utilized at any FCS location. The Condo Storage programs gives its members a variety of benefits:
- Member investors keep the benefit of tax depreciation for the bin (share) cost. In many cases condo storage will be a cheaper per bushel cost compared to building a bin on your farm.
- Only handle your grain once-during harvest, eliminating extra handling, transportation, and labor costs while speeding up your harvest by delivering grain to one of FCS’s high volume, efficient unloading facilities.
- Your grain is in position for marketing opportunities. Call your nearest grain location, market the grain, and pick up your check. Then refill your share when weather and time permits. This can be done as many times annually as desired.
- Shares in the LLC can be resold to other FCS members, where on farm storage is difficult to resell at an equivalent value, or passed down to future generations thereby investing in the future of your families operation.
- Corn is shrunk and dried to 15% on condo storage. Both corn and soybeans qualify for all government commodity loans and if put on warehouse receipt are protected under the State of Iowa Indemnity Fund and South Dakota Statutory Bond Coverage.
Farmers Coop Society is committed to our producers and providing them more opportunities to effectively store and market their grain. If you have any questions about these or any other contracts that FCS offers, please feel free to contact one of our Grain Originators: Warren Drew (Western Division) at 712-360-1744 or Braden Kooiker (Eastern Division) at 712-360-1261.
Contact your local FCS Location for more information or click on the link below for program details.