Return of funds in MF Global bankruptcy to be priority

Producers and business people from across the United States submitted testimony this past week before the Senate Committee on Agriculture, Nutrition and Forestry about the effects of MF Global’s bankruptcy filing.   CJ Blew, Castleton-area producer and MKC’s Board Chairman, was asked by Senator Pat Roberts to participate in those hearings on Tuesday.

Blew testified that although he did not personally have assets tied up in the MF Global bankruptcy, he was impacted.  “I rely upon my cooperative to manage my risk by forward pricing grain and my cooperative is impacted by the bankruptcy.” 

Blew further testified about the amount of time both MKC and Team Marketing Alliance (TMA) spent in the days following the bankruptcy filing trying to understand how and why various adjustments to account balances took place.