By Andi Anderson
The Iowa Department of Agriculture and Land Stewardship has received formal notice that Benson Hill Holdings, Inc., a grain dealer based in St. Louis, has filed for Chapter 11 bankruptcy effective March 20, 2025.
The company holds a grain dealer license in Iowa, and this development impacts grain sellers across the state.
Farmers or grain sellers who sold grain to Benson Hill before the bankruptcy date and have not been paid may be eligible to file a claim.
Claims must be made in writing and submitted to both Benson Hill Holdings, Inc. and the Iowa Department of Agriculture and Land Stewardship’s Grain Warehouse Bureau by July 18, 2025 — exactly 120 days from the date of bankruptcy filing.
Claims can be mailed or delivered in person to the Grain Warehouse Bureau. Importantly, failure to submit a claim within 120 days means the Iowa Grain Depositors and Sellers Indemnity Fund will not cover the loss.
However, Benson Hill remains legally responsible for paying its debts, even if a claim to the Fund is not made on time.
The Grain Indemnity Fund, established in 1986 during the Farm Crisis, offers financial protection to Iowa farmers who sell grain on a cash basis to licensed dealers or deposit grain in licensed warehouses. In case of failure, the Fund covers 90% of the loss up to $300,000 per farmer.
The Grain Warehouse Bureau continues to monitor the financial health of licensed grain dealers and ensures compliance with regulations to protect Iowa farmers.
Farmers with questions are encouraged to contact the Grain Warehouse Bureau directly at 515-281-5987 for more information on how to proceed.
Photo Credit: istock-dusanpetkovic
Categories: Iowa, General