South Dakota Grain Elevator May Get License Back

State regulators are trying to find a way to restore thesuspended licenseof a grain elevator in northeastern South Dakota while also protecting area producers, reportsKeloland.

The South Dakota Public Utilities Commission discussed thesituation of Roslyn Elevatorlast Thursday but continued to delay a decision.

According to a report at AgWeek, the Roslyn Elevator has in recent months been operating under the supervision of theSouth Dakota Public Utilities Commissionas it tries to return to profitability.

The commissionsuspended the elevator’s grain-buying licenseon February 15 because ofweak finances. The license expires June 30.

Lawyer Charlie Nelson, representing U.S. Bank, said the lender is working on aforbearance agreementwith the grain elevator’s owners that could be in place by the end of the month and could depend on the commission’s licensing decision.

John Mullen, the lawyer representing the grain elevator, said said the elevator’s profitability has historically been better in the last half of the year because of harvest activity. PUC grain warehouse manager Cody Chambliss agreed with Mullen’s portrayal of the elevator’s finances.

—Feed & Grain Staff