ADM is waiving the fees it charges farmers to dry grain at three of its Midwestern corn processors as it seeks supplies to keep the plants running at optimum levels through a slow, wet harvest period, a spokeswoman said on Thursday.
According to a report at Reuters, farmers, who are weeks behind schedule in much of the U.S. corn belt due to rainy harvest conditions, have been reluctant to sell their grain at current price levels.
Free drying offers them a significant break as tight supplies of propane needed to run grain driers have sent costs soaring this fall.
An spokeswoman told Reuters that ADM on Wednesday started offering free drying of corn at 19% moisture rate or less that farmers brought to its wet corn mills in Decatur, IL, Cedar Rapids, IA, and Clinton, IA.
