Broker's collapse hits rural Minnesota's grain industry - Bring Me The News

Broker's collapse hits rural Minnesota's grain industry

Trading services firm MF Global collapsed at the end of October after a disastrous bet on European debt. While few people in Minnesota did business directly with the broker, many of the state's farmers, co-ops and grain elevators are finding their accounts frozen and their money at risk.
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Trading services firm MF Global collapsed at the end of October after a disastrous bet on European debt. While few people in Minnesota did business directly with the broker, many of the state's farmers, co-ops and grain elevators are finding their accounts frozen and their money at risk.

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MF Global owes farmers at least $100 million

Reuters reports the Chicago Mercantile Exchange has set up a $100 million fund to help farmers and ranchers who lost money after the collapse of commodities trading firm MF Global. Many farmers and agricultural businesses in Minnesota saw their accounts frozen after the firm suddenly went belly-up.

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