Commissioner Staples Convenes First Meeting of Texas Grain Producer Indemnity Board (1/26/2012)

AUSTIN — The newly appointed Texas Grain Producer Indemnity Board recently met for the first time to discuss strategies for helping Texas grain producers mitigate losses in the event of a grain warehouse failure.

“I commend these individuals and others for working with the Legislature to address the need for developing self-funded solutions to benefit the Texas grain industry,” Agriculture Commissioner Todd Staples said. “Protecting grain producers from losses due to warehouse failures is a smart investment toward protecting our overall economy and ensuring consumer demand is met.“

Topics of discussion included the administration of the new legislatively-established grain indemnity fund; strategies for conducting a producer referendum; and development of rules for fund program implementation. In December 2011, Commissioner Staples appointed the nine-member board as a result of legislation passed in the previous session.

The following board members represent nine different organizations as directed by statute: Dee Vaughan, Corn Producers of Texas; Ben Scholz, Texas Wheat Producers Association; Dale Artho, Texas Grain Sorghum Producers Association; Daniel Berglund, Texas Soybean Association; Charles Huddleston, Texas Farm Bureau; Brian McCuistion, Texas Agricultural Cooperative Council; Guy Brady, Jr., Texas Grain and Feed Association; John Cowan, non-warehouse grain buying industry; and Mitchell Harris, expertise in production agriculture financing.

The board will hold its next meeting on Feb. 22.