Derks offers a Grain Bank Program for customers who wish to have their soybeans processed into roasted whole or flaked soybeans or soymeal. This program enables customers to deposit raw soybeans, have them stored, and subsequently withdraw an equivalent quantity of processed product, with full transparency in tracking and accounting.

​​

1. Delivery of Soybeans

Customers delivering soybeans to the elevator will have their grain graded, weighed, dried if necessary, and adjusted for shrink. The net shrunk weight constitutes the official amount recorded in the customer’s grain bank account and is available for future processing.

A storage receipt will be issued 45 days following delivery.

​

2. Storage of Grain

Soybeans are stored in general storage alongside other soybeans of similar grade (e.g., Grade 2 with Grade 2). Customers are not guaranteed to receive the exact soybeans initially delivered; however, all withdrawn product will be of equivalent quality.

​

3. Processing Options

​

Roasted Soybeans (whole or flaked)

During roasting, moisture is removed, resulting in natural shrink.
Conversion rate: 1 metric ton (MT) of roasted soybeans requires 1.1111 MT of raw soybeans.

​

Soymeal (Extruded)

Soybeans are cleaned, heated, de-oiled, and ground into meal.
Conversion rate: 1 MT of soymeal requires 1.365 MT of raw soybeans.

​

4. Product Pickup

When the finished product is ready for collection:

1. The product will be weighed at the scale.

2. The corresponding raw soybean equivalent will be calculated using the appropriate conversion factor.

3. The calculated raw soybean amount will be deducted from the customer’s grain bank balance.

​

5. Billing and Account Statements

Invoices will include the following:

• Weight of finished product delivered

• Processing charges

• Quantity of raw soybeans utilized

• Updated grain bank balance

This ensures complete transparency regarding all activity within the grain bank.

​

6. Example

A customer delivers soybeans, which after grading, drying, and shrink, total 20 MT in the grain bank.

The customer later requests 10 MT of soymeal.

Calculation:
10 MT soymeal × 1.365 = 13.365 MT of raw soybeans utilized

Remaining balance:
20.000 MT – 13.365 MT = 6.635 MT

The customer is invoiced accordingly, reflecting processing charges and the updated balance.

​

7. Annual Grain Bank Requirement

Grain bank balances must be fully depleted by September 30 of the crop year in which the soybeans were delivered.

Grain remaining after September 30 will be subject to the following fees:

• Rollover Fee: $6.00 per MT

• Storage Fee: $36.00 per MT

• Elevation Fee: $6.00 per MT

Soybeans delivered between August 1 and September 30 are exempt from the rollover fee for that crop year.

To avoid additional fees, customers are encouraged to schedule processing and product pickup promptly or, with the elevator’s agreement, may sell remaining grain to the elevator.

​

8. Assistance and Inquiries

For any questions regarding the Grain Bank Program, processing options, or account balances, customers are invited to contact our office. Our staff is available to provide assistance and guidance at every stage of the process.