Iowa Farmers Will Not Pay 1/4 of a Cent This Fall

Iowa farmers won’t have to pay 1/4 of a cent for every bushel they sell to grain dealers in the state. That quarter went to a Grain Indemnity Fund to pay farmers if the grain warehouse or dealer they sold to went belly-up. The Iowa legislature put this fund into place after the Farm Crisis in 1986 to provide a safety net to farmers. The law states that if the fund dips below $3 million, farmers would have to start paying the assessment until it reaches $8 million. With the fund being over $10 million farmers will not have to pay the 1/4 of a cent per bushel starting September 1st.