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State liquidates biodiesel plant’s grain assets

The Missouri Department of Agriculture has liquidated the grain-related assets of a biodiesel plant in southwest Missouri. Last month, the state suspended Prairie Pride’s grain dealer license because it could not meet its financial obligations. The department says the liquidation was necessary to insure that farmers receive payment for previously delivered soybeans.

Company officials blame their financial troubles on the loss of the biodiesel incentive, a dollar per gallon tax credit that Congress let expire at the end of last year.

Prairie Pride is a 72 Million dollar producer owned plant in Deerfield, Missouri, that began making biodiesel in late 2007.

State Ag Director Jon Hagler says the department hopes Prairie Pride can emerge from its financial troubles and honor its contracts.