Iowa farmers who sold grain to an Omaha dealer with facilities in Council Bluffs and Sioux City have until mid-March to file a claim if they haven’t been paid.
“We’re tracking that really closely,” Iowa Agriculture Secretary Mike Naig said. “Of course, our Grain Warehouse team is on top of that.”
The Hansen-Mueller company filed for bankruptcy November 17. Nebraska officials suspended its grain dealers license in late October after the company was accused of failing to make payments. Iowa farmers who file a claim after selling grain for cash to Hanson-Mueller may be reimbursed through a state fund, but Naig said it’s too early to tell how many Iowa operations may be affected. The Iowa Grain Dealers and Sellers Indemnity Fund was created during the Farm Crisis to compensate farmers when grain dealers fail to pay for corn, soybeans and other grain. “We don’t think there’s significant exposure there,” Naig said, “…but, of course, that’ll all come into focus here as the bankruptcy proceedings go ahead and then we’ll get a better look at what is the situation.”…