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A state fund that protects farmers from losses when grain dealers and warehouses go bankrupt is poised to run out of money, according to the Iowa Department of Agriculture and Land Stewardship.
The Minnesota senate ag committee approved by a 6-3 vote a safety net for farmers whose grain payments go un-paid by a bankrupt elevator.
After bankruptcies by grain-buyers, including an organic foods company in Fridley, the push is on for a state-backed indemnity fund.
Agricultural news from across Wisconsin and beyond.
Global Processing Inc. is based in Kanawha, Iowa, and operating in Hope, Minnesota. The company filed for Chapter 11 bankruptcy on Oct. 24, 2022.