The Minnesota Department of Agriculture is seeking to set up an indemnity fund, but how much the Legislature approves for the fund will determine whether a fee on grain sales will be needed.
The Minnesota Department of Agriculture is asking for $5 million to set up an indemnity fund for grain elevators as a way to make sure farmers gets paid for grain sales should an elevator become insolvent, like the Ashby Farmers Elevator after its manager defrauded the co-op members.