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Money Matters: Commodity Controversy

Millions of dollars apparently owed to farmers triggering lawmakers to discuss regulations that could come in 2015.
LITTLE ROCK, AR - "This problem is now and it's going to be really destructive if we don't get a handle on it."

A financial fallout that could put some Arkansas farmers underwater brings lawmakers to the capitol.

"My heart goes out to you, it's awful."

A midst the calls for change, confusion over how a commodity broker could default on estimated $50 million dollars in payments to farmers. For some reason lawmakers and state agents do not mention the company in question Turner Grain until more than an hour and a half into the meeting.

"We all know who we're talking about."

Complex flow charts illustrate the industry but fairly simple definitions show no real regulation exists for these middle men on the state level. They're not required to be licensed, bonded or insured.

Addison Adams, a merchandiser with Engald Marketing believes this current scandal has cast a shadow over the reputations of good brokers and believes those like him want to help instead of hinder the process.

"I feel like there probably does need to be some regulations in place to help that, but then again, we don't need to be so regulated that we have to go out of business. There is a need for us," said Adams.

There may be little the state can do to actually help this situation aside from asking for help from the congressional delegation on the federal level.

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