State grain elevator regulators in North Dakota and South Dakota will meet with farmers on June 17, in Redfield, S.D., to discuss fallout in state grain handling laws in the wake of matters involving the Anderson Seed Co. insolvency.
When Anderson Seed went out of business last year, it not only resulted in farmers losing $2.6 million, but brought into question the legality of long-held grain-buying practices.
Simplified, the case relates to the practice of verbal agreements.
The state Public Utilities Commission will discuss the issue at its meeting at 1 p.m. today at the Capitol in Pierre.
An Aberdeen, S.D., district judge has denied a request to reverse a ruling that makes Ray Martinmaas of Orient, S.D., eligible for a bond payment in the Anderson Seed Co. insolvency. The request was made by three managers of prominent grain elevator companies in the state.
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