Buyer comes forward to purchase soybeans left at Pierce Elevator - KTIV News 4 Sioux City IA: News, Weather and Sports

Buyer comes forward to purchase soybeans left at Pierce Elevator, Inc.


PIERCE, Neb. (KTIV/US92)  A buyer has come forward to purchase the batch of soybeans left behind by the Pierce Elevator, Inc.

In March, it was announced the elevator was struggling and ultimately would not be saved.

The Nebraska Public Service Commission announced the sale of grain left behind in mid-April.

The bids needed to be received by the commission on April 28th.

NPSC Director of Grain, John Fecht, says there were seven bids and the top bid was awarded to ADM at the price of $14.75 a bushel.

"We priced them on March 4th at $13.55 a bushel at Pierce when we closed," said John Fecht, Nebraska Public Service Commission. "That's a nice gain for the revenues we need to take care of all the claimants that we can pay, and cover our expenses in moving the grain out of there."

The commission plans to begin moving soybeans in July.

A public hearing is scheduled for June 4th in Pierce for farmers making a claim to testify to the commission.

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