On 10/28/09, the board of directors revised the grain purchasing agreement. In the past, the grain department was limited to forward contract 12 months in advance. The revised grain purchasing agreement allows the grain department to forward contract up to 2 crop years in advance as long as the CME prices trade below a predetermined target price. 

Grain Purchase Agreement Policy (Revised: 10/28/09)
 

Cooperative Plus Inc. will not buy grain flat price for any time period more than 12 months out from the current month when the following conditions occur:

1) The CME board has traded at or above the target price listed below for one week for the next crop year:
 

Corn - $5.50
Soybean - $12.00
Wheat - $9.50
 

2) The CME board must trade below the target for one week to rescind this policy.

3) Cooperative Plus Inc. will only forward contract 2 crop years in advance.