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South Dakota Regulators to Discuss Grain Law Changes

A farmer harvests wheat
Sean Gallup/Getty Images

REDFIELD, S.D. (AP) – Farmers in the Dakotas who lost millions of dollars to a failed seed company will get their chance Saturday to speak on proposed changes to South Dakota law designed to help regulators better detect a grain buyer’s deteriorating financial condition.

Public Utilities Commission grain warehouse director Jim Mehlhaff says the proposed changes focus on timely disclosure of financial information, modest increases to the bonding requirements and criminal penalties for grain buyers that fail to comply.

The Aberdeen American News reports that Mehlhaff will talk to farmers Saturday in Redfield.

Anderson Seed Co. shut down earlier this year without paying farmers for millions of dollars in sunflower seeds which had been delivered to its warehouse.

Some farmers have criticized the PUC for failing to adequately regulate the company.

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Copyright 2012 by The Associated Press. All rights reserved. Material may not be redistributed.

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