Farmer: $50,000 bond increase would not help regulate grain buyers

12/19/2012 | Dickinson Press (N.D.)

Farmers in South Dakota weighed in recently on proposed changes to a law designed to help regulators determine when a grain buyer is in financial trouble. Attention has been focused on the subject since the failure of Anderson Seed, which left farmers unpaid for millions of dollars' worth of seeds after closing earlier this year. In addition to an increase in bonding requirements, the proposed changes deal with disclosures of financial information as well as criminal penalties. "The bond is a joke," one farmer said. "I have said it before, increasing a bond by $50,000 won't do anything."

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Dickinson Press (N.D.)

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