After reviewing our grain payment deferral process, we will begin paying out interest at the end of each calendar year for multi year deferred contracts entered into before end of June for that year. For Example:
Contract entered into on 2/28/2023 with a deferred grain payment date of 01/02/2025 Interest accrued from 2/28/2023 through 12/31/2023 will be paid on 12/31/2023 and then a new rate will be set for 2024 Interest from 1/1/2024 to 12/31/2024 will be paid when deferred grain payment is made on 1/2/2025. As usual, deferred contracts entered into after 6/30 of any given year will not accrue interest.
We will review and adjust interest rates on an annual basis.
