Feed Beans Contract 2022 Harvest

BAF Standard Terms

Issued Feb 2022

The contract is for an agreed tonnage of winter or spring beans, of any English grown spring or winter variety on the current PGRO recommended list. The Beans must conform to all UK and EU regulations pertaining to food products in existence at the time of delivery. It is the responsibility of the seller to declare on the grain passport what, if any, post-harvest chemical treatments including pesticides have been used on the beans.

Pricing

All beans remain un-priced until such time as the seller requests the price to be fixed. All contracts must be price fixed prior to actual delivery. The seller has the right to request price fixing on any working day within the working hours of the LIFFE Futures Exchange.

September- December 2022 – Buyers Call.

£35 above November 22 Feed Wheat Futures bid price – ex farm.

OR

January - March 2023 collection.

£32 above May 23 Feed Wheat Futures.

Quality Premiums if applicable to be agreed separately.

Movement

Buyers call September – December 2022 and January - March 2023.

Quality Specification *

Moisture:                                    Max 15%

Screenings:                                 Max 2% through a 2mm sieve

Admixture:                                  Max 2%

Upgrades

Upgrades will be treated on a lot by lot basis, after safe delivery at harvest, and samples will need to be approved. The buyer will do everything possible to ensure the best market for each lot. The movement period may be adjusted in order to cater for premium markets which will be mutually agreed.

All beans shall be sound and of merchantable quality, free of animal droppings, and must be sweet smelling and free of damage due to incorrect drying.

Current AIC01 Contract to apply insofar as they are not inconsistent with these terms.

Notwithstanding AIC Contract Terms, Buyer applies and relies on the terms of the ultimate receiver at the time of delivery.