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Veteran Advisor

Syngenta Lawsuit

Haven't signed up for the class action lawsuit against the big company, and the expected ten cent per bushel net recovery , but something I have thought about.

 

If the USDA bungled the 2014 corn production and stocks so badly, and I was a farmer that sold out at a $1 per bushel below where the market is right now, would I feel I deserve to sue the govt for this?

 

Its a blunder that is ten times more costly than what the tainted corn cost producers, right?

3 Replies
Honored Advisor

Re: Syngenta Lawsuit

2014 would not be the only year........or corn the only crop.

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Senior Contributor

Re: Syngenta Lawsuit

Red, chances are you ARE signed up in the class action suit, my understanding is that there are lawyers claiming to represent ALL corn growers, except for those who specifically opted out, or have a suit with another firm.   I belive if you don't claim your share of the money, it will just get divied up with the others who do.

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Honored Advisor

Re: Syngenta Lawsuit

You make a good point Red, the USDA under-estimated the bean crop last year, we probably literally ran out of beans in the pipeline.  And now with the possiblity of having a sub trend bean yield there might be a compounding effect given that we didn`t start at the starting line but rather back 10 yards.

 

These reports only work for the enduser, all they have to do is see that the supply is one more bushel than they need, then they can just play the waiting game.  The monkey wrench is grain bins, some producers are too "dumb" to listen to the "smart" gurus and store their grain. 

 

But with Syngenta, I heard them say that stuff wasn`t approved for export, I went to a Funk Seed meeting couple years ago and I didn`t want anything to do with it or any Syngenta seed given their track record.   With this litigious society will they start suing a sporting goods stores because the "deer rifle" sold was actually used in a liquor store holdup?   It`s a can of worms.  But USDA with these reports 300 million bushel one way or another and the farmer has either $3 corn or $5 corn.  if they get too far out of whack, the traders don`t even believe it.

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