The Ohio Department of Agriculture has completed a grain audit of United Equity Inc., with locations in Delphos, Spencerville and Neptune, and found the facility to be in failure under Ohio’s grain law. The finding, announced this week, makes the Ohio Grain Indemnity Fund available to support farmers who may have eligible claims for grain they previously delivered to the company.
The facility’s grain handler’s license was suspended earlier this month after an initial department inspection of records indicated a financial shortfall, according to the department. The audit confirms the scale of the problem, potentially affecting farmers across northwest Ohio’s corn and soybean country who delivered harvests to United Equity’s elevators.
Ohio’s Grain Indemnity Fund exists precisely for situations like this, reimbursing farmers when licensed grain handlers fail to pay for delivered grain. Farmers with eligible claims are urged to contact the Department of Agriculture to begin the claims process, which can take months to resolve as auditors sort through outstanding receipts and warehouse obligations.
The case is a reminder of the financial risks grain producers carry beyond weather and markets. State officials have not said how many farmers may be affected or the dollar value of the potential claims, but the fund’s involvement signals the shortfall is significant enough to require a formal state backstop.
