NON GMO SOYBEANS

As we review the condition of our current facilities and try to decide where to add additional storage for this and future large harvests, we are looking to make the following change in accepting non-GMO soybeans for the 2010 crop year.

Currently we accept non-GMO soybeans at our Beason and Lawndale facilities.  We try to allocate enough storage to handle the crop and still be able to segregate the beans to maintain the premium.  We cannot afford to loose any of the $2.00 premium that is currently being paid.  The flat storage buildings and small bins that we use are showing their age and are not the best quality storage.  If we run into problems with bean quality because of poor storage, any premium loss comes out of the elevator's pocket.  This takes away the incentive for us to handle the beans, especially with the small margin we make on them.

As future storage needs are a priority for ELFG, we do not want to continue to put ourselves in a position where we cover premium loss when we need to build bins.  We are therefore going to discontinue taking non-GMO soybeans at any ELFG facility starting with the 2010 crop.  If you have on farm storage, you can still participate in the program as long as you store the beans at home.  You can continue to market your non-GMO beans through ELFG and we can arrange transportation to the processor when it is time to move them.

If you have any questions, please feel free to give us a call.