The South Dakota Public Utilities Commission has scheduled a special meeting later this week to consider suspending the grain-buyer license covering four locations in southeastern South Dakota, reports the Daily Yankton.
The commission will review the situation of Utica Grain Inc. Ralph Marquardt of Yankton, SD, incorporated the company in 1999. It does business as Upper Midwest Grain Elevator, which has locations in Irene, Meckling, Tabor and Utica.
PUC staff attorneys Amanda Reiss and Kristen Edwards asked for the immediate suspension of Midwest Grain.
“We are specifically aware of acts of insolvency and stress an immediate suspension of the license at each of the four location is the only way to prevent further potential damage to South Dakota producers,” they said in a filing.
Read the full report here.
