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Topic: Tennessee Grain Indemnity Fund

Tennessee Department of Agriculture Grain Indemnity Assessments to resume March 1st

 

The Tennessee Department of AgricultureNashville, TN – An assessment on grain sold in Tennessee will be reactivated effective March 1st at a rate of 1 cent per bushel on soybeans and a half cent per bushel on all other grains announced the Tennessee Department of Agriculture. The assessment is being reactivated in response to recent changes in state law.

The purpose of the assessment is to increase the balance of the Tennessee Grain Indemnity Fund, which was established in 1989 to provide financial protection for grain producers against the failure of grain dealers and warehouses. State law governing the fund was amended in 2011 to increase the minimum balance from $3 million to $10 million. «Read the rest of this article»

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