An Iowa grain company that does business in Minnesota has gone bankrupt and the Minnesota Department of Agriculture is advising farmers that they may need to file a claim against the company, AgWeek.com reported. Global Processing Inc. is based in Kanawha, Iowa, and operating in Hope, Minn. The company filed for chapter 11 bankruptcy on Oct. 24. Anyone who has not received payment for grain or who had grain stored with Global Processing Inc. is encouraged to submit a bond claim with the Minnesota Department of Agriculture. The Hope facility, in accordance with state law, held a $50,000 bond with the state. Farmers should submit a claim as soon as possible. The deadline for claims is April 24, 2023. The ag department will review all claims to determine which claims are valid. In the case of multiple valid claims, a pro-rated share will be calculated and dispersed.
