Utica Grain Keeps License, Faces Financial Conditions

PIERRE — The state Public Utilities Commission decided Tuesday against suspending the grain-buyer’s license but placed stiff conditions on Utica Grain Inc.

The company, whose president is Yankton businessman Ralph Marquardt, must submit monthly financial reports for third-party review and keep clean financial records.

Marquardt also guaranteed any producer would be made financially whole.

The company has locations at Irene, Meckling, Tabor and Utica.

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