A state regulatory panel agreed Aug. 24 to wait until Sept. 4 to decide whether to suspend the grain buyer license for South Dakota's Utica Grain Inc., reports Farm Forum.
Ralph Marquardt told the South Dakota Public Utilities Commission he or brother John Marquardt would take responsibility for all decisions going forward at Utica Grain Inc.
The company does business as Upper Midwest Grain Elevator with locations at Utica, Irene, Meckling and Tabor.
Company officials said they remained about $11,000 short of the $100,000 cushion on Aug. 24. Ralph Marquardt had $284,941.28 put in the checking account on Aug. 23.
No one alleged a producer wasn’t paid.
Read the full report at Farm Forum.
