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425Cat
Advisor

dp grain protection

Is grain put in a price later contract covered in the states indemnity fund in event the elevator goes bankrupt. Also what about farmers cash held.
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6 Replies
Hobbyfarmer
Honored Advisor

Re: dp grain protection

Two terms come to mind...

 

A) gone

 

B) donated

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rayjenkins
Veteran Advisor

Re: dp grain protection

DP grain protection varies by state

 

In Iowa, a basis contract, or DP, or deferred payment contracts all fall under the "credit sale contract" provisions

 

and none of them are covered by the Iowa grain indemnity fund

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425Cat
Advisor

Re: dp grain protection

So does indemnity funds only cover warehouse reciepted grain???
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rayjenkins
Veteran Advisor

Re: dp grain protection

What state are you asking about??

 

If Iowa, that is true that it only covers WHR grain...

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Hobbyfarmer
Honored Advisor

Re: dp grain protection

Doesn't it cover grain just delievered marked sell and checks issued but returned
425Cat
Advisor

Re: dp grain protection

Michigan
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