Gibson City grain dealer's license revoked

GIBSON CITY — The Illinois Department of Agriculture has revoked the license of a financially troubled Ford County grain dealer.

The license belonging to SGI Agri-Marketing LLC, a specialty grain dealer in Gibson City, was revoked Wednesday following an administrative hearing to address the suspension of the facility’s license after the Illinois Department of Agriculture discovered deficiencies in the company’s financial statements. 

The company has been ordered to cease and desist doing further business.

The Illinois Department of Agriculture has assumed control of the company, including its grain assets, and will begin the process of compensating claimants per the Illinois Grain Code.   Anyone who has sold grain to the company and has not paid in full should contact the Illinois Department of Agriculture’s Bureau of Warehouses to file a claim. 

The Illinois Department of Agriculture will hold an informational meeting to explain the liquidation and claims processes at 1 p.m. Wednesday, Nov. 16, at SGI Agri-Marketing LLC at 231 N. Sangamon Ave. in Gibson City. The meeting is open to anyone with a financial interest in the company, including farmers who may be potential claimants. 

In general, valid claims are compensated under the Grain Code as follows: 

— Grain that was delivered and priced within 21 days before the date of failure is covered at 100 percent.

— Grain that was priced 22 to 160 days of the date of failure is covered at 85 percent.

— Grain sold on a price later contract is protected at 85 percent of closeout value within 365 days of delivery. 

Farmers or creditors who wish to file a claim should contact Illinois Department of Agriculture personnel on site at SGI or by mail at the Illinois Department of Agriculture’s Bureau of Warehouses, P.O. Box 19281, Springfield, IL 62794-9281.


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markcarter wrote on December 08, 2016 at 1:12 am

Jose Antonio M. Munoz, 26, of Gibson City, for driving under the influence of alcohol.

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It was a pretty goos info about the grain dealers and farmers feel a bit safety and comfortable with the claims info provieded above. As per rush essay articles many farmers are facing issues regarding their agriculture and farms.

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