There are holes drilled in the corners of the box feeder and it drains really well. The PVC feeder doesn't have a lip on the platform, so the water runs right off when it rains hard. It also takes the some of the corn with it, but not enough to cause more to fall out of the tube.

I've been using them for years. However, I don't cap the bottom. I use hardware cloth across the bottom and screwed up onto the sides. The water just drips out. I also don't use the cup at the bottom. I saw about half way through the pipe about 2 inches from the bottom. Then I heat the area just above the cut with a torch of any kind. As the pvc is softening, I push it inward with a piece of shovel handle or anything else until the desired opening is made. Hold the stick until the plastic hardens. I put a bucket or metal coffee can over the top to keep squirrels out. They will keep going in until they can no longer jump out. Then, you have a stinky mess on your hands.