Missouri Code of State Regulations › Title 2 - DEPARTMENT OF AGRICULTURE › Division 60 - Grain Inspection and Warehousing › Chapter 4 - Missouri Grain Warehouse Law › Section 2 CSR 60-4.180 - Claim Valuation

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes procedures to be
				  followed in settling storage claims and in determining the value of storage
				  claims. It also sets forth the methods and procedures to be used in allowing
				  claims against the bond (security) files with the Department of
				  Agriculture.
(1) The
				following words, terms and phrases when used in this rule, except where the
				context clearly indicates otherwise, shall mean:
(A) Board price-purchase price offered by
				grain warehouses for grain delivered or sold from storage. Generally this price
				is posted in public view and is changed periodically as market prices
				change;
(B) Claimant-any person who
				has a grain storage claim against a licensed warehouse;
(C) Costs of liquidating grain-costs incurred
				by the department in liquidating and loading out the grain contained in the
				warehouse. This includes labor to monitor the warehouse facility until the
				grain is loaded out, load-out of the grain and charges for grading, as well as
				trucking expenses;
(D) Daily Market
				Summary-report published daily by the market news section of the marketing
				division of the Missouri Department of Agriculture which notes among other
				things, the range of cash truck bids paid for grain to producers for different
				areas of the state;
(E)
				Department-the Missouri Department of Agriculture;
(F) Depositor-any person who deposits grain
				in a warehouse for storage, handling, shipment or processing, or who is the
				owner or holder of a warehouse receipt, or who is otherwise lawfully entitled
				to possession of the grain;
(G)
				Director-the director of the Missouri Department of Agriculture or his/her
				designated representative;
(H)
				Licensed warehouse-a warehouse for which the department has issued a license to
				operate as a public warehouse in accordance with the provisions of Chapter 411,
				RSMo;
(I) Local paying
				price-purchase price offered by grain warehouses and grain dealers, with
				receiving and shipping capabilities similar to the warehouse with storage
				claims, located in a twenty (20)-mile radius;
(J) Pricing date-the date that a claimant
				loses the ability, by action of the warehouse or the Missouri Department of
				Agriculture, to demand redelivery of grain deposited at the warehouse or sell
				the grain to the warehouse;
(K)
				Storage claim-occurs upon the inability of a licensed warehouse to redeliver
				grain to a depositor upon demand;
(L) Storage grain-any grain received in a
				warehouse, including grain bank grain, unless sold in accordance with the
				provisions of section(s) 411.325 or 276.401-276.582, RSMo;
(M) Total gross claim value-claimant's
				quantity of a commodity multiplied times the unit claim value;
(N) Total net claim value-total gross claim
				value less warehouse charges and other charges approved by the director or
				circuit court;
(O) Unit claim
				value-the price determined by the department in accordance with this rule to be
				the value per normally traded unit of individual commodities stored by the
				warehouse as of the pricing date; and
(P) Warehouse charges-amounts charged by the
				licensed warehouse in accordance with the schedule of charges filed with the
				department. Allowable charges include: storage, receiving, load-out, cleaning,
				drying, quality discounts and other charges applicable to the conditioning or
				processing of grain delivered.