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H&I Grain Files For Bankruptcy

South Dakota company owes more than $15M

H&I Grain, Hetland, SD, has filed for bankruptcy, reports KELOLAND News.

In 2016, the owner's son, Jared Steffensen, was hedging commodities and lost millions of dollars of H&I's money.

New court papers say the business owes more than $15 million. In addition to farmers, the company owes money to a bank, a trucking company and nearly $2 million to CHS Hedging in Minnesota.

According to the KELOLAND News, four family members face criminal charges ranging from theft by deception to failing to notify the PUC of H&I's financial status.

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