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South Dakota Ag News Headlines
New bill aims to modernize grain buying laws in South Dakota
South Dakota Ag Connection - 02/09/2024

South Dakota's legislature is considering House Bill 1135A, introduced by Republican Rep. Drew Peterson, to update grain buying laws. The bill aims to protect farmers and regulate transactions crossing state lines, mandates out-of-state buyers to adhere to South Dakota's laws, including bond requirements, and protects farmers in cases of insolvency.

The House Agriculture and Natural Resources Committee passed a bill that addresses gaps in existing grain buying codes, clarifies grain definitions, and ensures contracts are recognized once an offer to buy grain is accepted, according to Liz Stavick of the South Dakota Agri-Business Association.

Supporters of the bill, including representatives from the South Dakota Association of Cooperatives, the South Dakota Farm Bureau Federation, and the South Dakota Soybean Association, argue that these updates are crucial for the industry to self-regulate effectively and protect state farmers.

The bill's alignment with practices in neighboring states, such as Nebraska and North Dakota, was highlighted as a positive step towards standardizing grain buying regulations across state lines.

Cody Chambliss from the state’s Public Utilities Commission noted the importance of out-of-state buyers getting bonded and licensed, emphasizing compliance with South Dakota's regulatory framework.

House Bill 1135A represents a proactive approach by industry stakeholders and lawmakers to safeguard the interests of farmers amidst the evolving complexities of grain trading, ensuring South Dakota remains at the forefront of agricultural legislation.

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