Oct 12, 2018

Three Plead Guilty in Organic Grain Fraud Scheme

Farmers knowingly marketed non-organic corn, soybeans as certified organic

Three Nebraska farmers will plead guilty to knowingly marketing non-organic corn and soybeans as certified organic as part of a lengthy, multi-million-dollar fraud scheme, federal prosecutors revealed Thursday, reportsCity News 1130.

Prosecutors allege that Tom Brennan, his son James Brennan, and family friend Michael Potter conspired with the owner of a large Iowa-based company to dupe customers nationwide who thought they were buying grains that had been grown using environmentally sustainable practices.

From 2010 through 2017, the trio sold non-organic grain directly to customers and to an Ossian, Iowa-based company, which is identified in court papers only as “J.S.” and as being owned by an unidentified co-conspirator.

Read the full reporthere.

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Marketwatch: Mar, 23

US Corn Price Idx:ZCPAUS.CM

open: 7.2027
high: 7.2141
low: 7.1152
close: 7.2109

US Soybean Price Idx:ZSPAUS.CM

open: 16.4168
high: 16.4378
low: 16.3004
close: 16.4004

US Hard Red Winter Wheat Price Idx:KEPAUS.CM

open: 10.6414
high: 10.6414
low: 10.2778
close: 10.3835

US Soft Red Winter Wheat Price Idx:ZWPAUS.CM

open: 10.5512
high: 10.5662
低:10.0624
close: 10.2759