The Minnesota Farmers Union is calling for the establishment of a grain indemnity fund in the 2023 legislative session. Global Processing Incorporated filed for Chapter 11 bankruptcy in late October and farmers who have not received payment for grain or had grain stored with the company’s Hope, Minnesota facility are being encouraged to file a claim with the state agriculture department. However, the state only requires grain sellers to have a $50,000 bond. Minnesota Farmers Union cited grain elevator failures in Karlstad, Ashby and Porter where farmers received only pennies on the dollars owed.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.