Watkins (IA) Elevator grain dealer license revoked

The Iowa Department of Agriculture hasrevoked the warehouse operator and grain dealer licenses for Watkins Elevator Incorporated of Watkins, Iowa. Watkins is located in Benton County, southwest of Cedar Rapids.

The business’s licenses were suspended on April 1st for failing to meet the minimum net worth andcurrent ratio requirement. Watkins Elevator consented to the voluntary revocation of their grain dealer license and waived their right to an administrative hearing.

The Grain Warehouse Bureau says anyone with a grain claim against the elevator must contact the company andthe bureau in writing by August 12. Any losses may be partially covered by the Iowa Grain Depositors and Sellers Indemnity Fund.

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