Big blow for farmers and grain elevator in northeast Nebraska - KTIV News 4 Sioux City IA: News, Weather and Sports

Big blow for farmers and grain elevator in northeast Nebraska

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PIERCE, Neb (KTIV/US92) - Hundreds of farmers in Northeast Nebraska are getting the bad news that their grain elevator will not be saved.

For weeks we've been telling you about the financial problems Pierce Elevator Incorporated was having, and today a big blow to the company that operates elevators in three locations.

The Nebraska Public Service Commission talked with Pierce Elevator Attorney Lance Carlson about the company's final investor meeting with Husker Ag on Thursday.

According to Carlson, Husker Ag decided against investing any money towards the Elevator.

For the commission that was the last straw, so it's time to start moving the company's grain.

"I mention to him (Carlson) that we would be mailing out our informational letter in plain form and affidavits today. People will be getting them next week and can review those. Instructions are pretty clear as what we want them to do," said John Fecht, NPSC Director of Grain.

The Commission is sending over 210 letters to farmers who have grain stored with the Pierce Elevator.

They will have until the end of April to return their claim for a chance at payment.

A public hearing is scheduled for June 4th in Pierce to have the farmers come testify with the Nebraska Public Service Commission.

The elevators in Pierce, Randolph and Foster combined have 660,000 bushels of corn and 130 bushel of soybeans stored for sale.

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