Some 350 farmer-members of the Crestland Cooperative attended a special meeting last night in Creston to learn about the facility’s future. Iowa Ag Secretary Patty Judge says she was encouraged by the attendance and just wanted to try and bring some information to those people involved.
The top grain buyer in southwest Iowa filed for bankruptcy last month after the state suspended the company’s license to buy and store grain. Secretary Judge outlined the steps farmers need to take to receive funds from the Iowa Grain Indemnity Fund.
Crestland C-E-O Paul Eckhoff says they have 120 days to put together their reorganization plan.
Eckhoff was asked about the merger talks that were going on before the bankruptcy filing and if they were damaged by the action. He says the people that were originally involved may resurface again.
Crestland has about two thousand farmer members with 18 locations in the southwest Iowa region.