Stay Informed
Changes go into effect for grain buyers law
House Enrolled Act 1483, which was passed by the Indiana General Assembly in 2021, amended certain sections of the Indiana Grain Buyers and Warehouse Licensing and Bonding Law, and these changes could affect the way producers market their grain when using deferred pricing agreements.
The changes went into effect July 1.
To help increase awareness, the Indiana State Department of Agriculture has put together resources to help communicate these law changes to farmers. You can find them on ISDA’s website or by scanning the QR code on this page.
By amending certain grain marketing practices that are important for both grain producers and grain operations to be aware of, the new law:
- Adopts and implements USDA’s definition of a “crop year.”
- Adds an entire section regarding new and existing deferred pricing agreements to the statute. Producers now have only one crop year, as defined by the law, to price their grain that is delivered to a licensee on a deferred pricing agreement.
For questions regarding these law changes or other grain-related matters, contact the Indiana Grain Buyers and Warehouse Licensing Agency’s main office at 317-232-1360 or ingrainbuyers@isda.in.gov.
