Monsanto Settlement Better to do Sooner Than Later

In November, Monsanto announced that a settlement had been reached with Pacific Northwest soft white wheat growers to compensate them for losses incurred due to the GMO wheat found in 2013 on a Northeastern Oregon farm. The settlement amount available for wheat growers is $2.15 million dollars. CliftonLarsonAllen Principle and Farm CPA Today Blogger Paul Neiffer shares some of the settlement details Neiffer: “And based on when you sold your wheat between May 30th of 2013 through November 30th of 2013 — you are either entitled to a settlement of 12 cents a bushel for every bushel sold, 10 cents a bushel, or 8 cents.”
If you sold wheat between May 30th and July 31st, you would be given 12 cents per bushel. August first through September 30th would be 10 cents a bushel and then soft white wheat sold October first through November 30th would net you 8 cents.”
Neiffer urges farmers interested in participating in the settlement to do so sooner rather than later — the deadline is March 31, 2015.
Neiffer: “Now the settlement is only $2.15 million for Pacific Northwest farmers. When I ran the calculations, I have a feeling that there were more bushels sold during that time period. So it would behoove farmers to go ahead and get their settlement offer in right away. There are two ways of doing it — there is a 1-800 number that you can call or you can go online. If you go to our blog at FarmCPAToday.com and search Monsanto you will able to get that link.”

Go to swwsettlement.com for more information.