The Ohio Department of Agriculture has suspended grain handling operations at United Equity, Inc. after an audit confirmed the company faces a financial shortfall.
The suspension affects United Equity’s main location in Delphos, along with branch locations in Spencerville and Celina. The company’s grain handler’s license was suspended to prevent additional outstanding obligations and allow for a possible remedy through the state’s Grain Indemnity Fund.
Farmers who believe they have outstanding grain obligations with United Equity should call the Ohio Department of Agriculture at 614-728-6410.
Ohio created the Grain Indemnity Fund in 1983 to reimburse farmers when a licensed handler becomes insolvent. The department’s Grain Feed & Seed Section handles claims in conjunction with recommendations from the Ohio Commodity Advisory Commission.
Under Ohio Revised Code, the department holds an automatic lien for farmers’ benefit when a grain handler fails or becomes insolvent. These liens now take priority over all competing lien claims against the handler, which ensures the indemnity fund receives maximum reimbursement during asset liquidation.
The suspension prevents United Equity from accepting new grain deliveries or entering into new grain purchase contracts while state officials work to address the financial situation. The action aims to protect farmers’ interests and limit potential losses to the state indemnity fund.
Farmers affected by the suspension should gather documentation of their grain deliveries and contracts with United Equity to prepare for potential claims.
