The Iowa Department of Agriculture and Land Stewardship (IDALS) has announced the assessment on grain transactions at licensed dealers and warehouses that are part of the Iowa Grain Depositors and Sellers Indemnity Fund will continue for an additional year. The assessment is now expected to end on Aug. 31, 2025, barring further claims against the fund. Following grain facility failures in 2021 and 2022, the indemnity fund’s balance dropped below the $3 million threshold, triggering the reinstatement of participation fees and a quarter-cent per bushel assessment on grain transactions. This assessment began on Sept. 1, 2023. The fund has since accumulated $4.7 million but remains below the $8 million target required to suspend the assessment. Iowa’s Grain Indemnity Fund was established in 1986 during the Farm Crisis and provides financial protection to Iowa farmers, covering 90 percent of losses on grain held in state-licensed warehouses or sold on a cash basis to state-licensed grain dealers. Over $19 million in claims have been paid to more than 1,600 grain producers since the fund’s inception. Learn more about the Iowa Grain Depositors and Sellers Indemnity Fund by following the link included below.
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Grain Indemnity Fund Coverage | Iowa Department of Agriculture and Land Stewardship
