I was at the Minnesota Ag Expo this week.  During the soybean growers resolutions meeting a gentleman told about a grain elevator in western Minnesota that went bankrupt and the farmers had grain deferred and even checks in their posession that bounced.  At this time the farmers will get about 2 cents on every dollar they had coming.  So the question was asked about grain elevators that were bonded.  Another person said that when a grain elevator is bonded it means there is a garantee of $150,000 for all the farmers with grain sold or stored at the elevator to split up.  Is this true ??  That is a tiny drop in the bucket when you see these huge piles of grain sitting at these elevators.
Later a person from North Dakota stood up and said that in North Dakota the state legislature has set up a "superfund" just for this purpose. So that if a grain elevator in North Dakota would go bankrupt the farmers would be able to tap into this superfund in order for the farmers to be made whole on the grain they have stored or sold there. 
I was not aware of any of this but it is un nerving and I havent slept good since !