Barley

[Burbert]

Fu@##t! Go wit newco, whatya got ta lose,
money, theys recently went broke, butt
that couldn't possible happen again. Ifn
ya thinks ya kin make another penny, take
a chance, you are after all a Comedian
framer, ifn ya don't get yer cash, ya kin
always whinnee and snivel! Thats the way
most Angribusiness is conducted!!!!!

[GreenValley]

GF, that Bentley is Healthy Herds is
correct and owner of business and
partnership with Market Place Commodity
Ltd. Just seeing they are making canola
meal and wheat into grinding and smell
good.

[grassfarmer]

And the in between stage was called Newco Grain,
Bentley. It changed from Newco Commodities,
Coaldale to Newco Grain. Don't know if that was the
whole Newco outfit or just Bentley that changed
names at that point. I get suspicious when a business
changes it's name too often.

[oneoff]

Last spring Newco was sourcing large quantities of winter wheatfrom SE Sask for delivery into Winnipeg area (colonies and feed mills). They also were looking for barley; and why not; they didn't pay for hundred of super b loads.

[GreenValley]

Could be form to grain buyer after parthership end with Bentley or if it is before that how far back when, is question?. Maybe they pushing Bentley to looking for more barley but don't want to be pushing, just thought. Enter Newco Commodity in search and get 2 name under one website link. It seem new name to me. During Jan/Feb delivery my barley didn't delivery to Bentley instead to Olds. So Newco Grain Ltd is grain buyer to me.

[GreenValley]

should have said, Newco Commodities instead of Newco Commodity.

[oneoff]

There doesn't appear to be any consensus developing on an improved payment system for delivered grain. That's serious because there are obviously serious flaws in the current method.
It is becoming evident that the broker section feels that a certain segment of farmers don't always live up to their end of the contracts. And without advertising; one stick carried over all farmers, is to delay payment of some or all payment s until the contract is completed in ful.

EVERYONE JUST THINK ABOUT THAT. My intent is to get a contract completed and get on to new business. Not to drag business out to months and wonder if full payment will ever be received. This is no good for farmers cash flow or their blood pressure..

A reasonable amount of down payment upfront is the least that should be exopected when someone has received and "purchased" 100% of what they are going to get. Inability of the purchaser to come up with even that is a very big red flag; and exactly what the CGC; the producer and the industry should be willing to provide at a bare minimum. I think the Newco collapse would have happened sooner and the their receivable from mills, feedlots etc. would not have been allowed to get so out of hand.

And no one has commented much on the situation that Newco placed their customers in by not being able to fulfil their end of promises made based on their speculation and gambling.

Should bonds be used to cover gambling losses, or should punishment on earth involve prosecution and fines and incarceration.........

[wd9]

Get full payment in trust, then deliver.
Does it get any simpler?

[mpc1]

A friend just notified me about this on-going thread.
Market Place Commodities Ltd is NOT associated with
Newco, and never has been associated with Newco.
Take a look at www.marketplacecommodities.com
and there is plenty of info/videos etc or call 403-
394-1711.

[checking]

wd9.

What percent of buyers have agreed with your trust payment term?

[oneoff]

There is a buyers argument that there is no "accurate" weight (other than a guess or air bag pressure) or argreement on satisfactoy quality upon which to base any payment to anyone (or any trust).
And that is why your assumption that nothing could be simpler is fatally flawed.

[charliep]

oneoff

The more you post, the more you seem to be
promoting a cash clearinghouse. Do you understand
the concept? Third party clearing is what backstops
all futures markets and ensures all transactions are
covered financially. All transactions are cleared daily
to ensure both the buyer and the seller are
covered/can meet their commitments. Has been
suggested and in fact a major study done on the
concept/how would be run but no uptake in the
industry. No one likes posting margins because of
the impact on working capital/interest cost.

Lots of examples of insurance programs as well to
cover recievable risk. Other work has been done on
standardized contracts including tighter terms on
payment. Issue has been a round since the beginning
of time but no industry agreement on how to
proceed.