Minnesota grain bonds.
From $100.

Minnesota licensed grain buyers file a bond with the Department of Agriculture under Minn. Stat. 223.17, sized to their gross annual grain purchases — first-time applicants post $50,000. The premium is 1% of your bond amount, $100 minimum, with one soft credit pull for approval, never a hard hit.

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Required for a MN grain buyer license under Minn. Stat. 223.17 (Dept. of Agriculture)

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Amount is tiered to your gross annual grain purchases — first-time applicants file $50,000

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Premium is 1% of your bond amount, $100 minimum — a soft credit pull runs for approval only and never affects your score

1% of amount$100 minimumSoft pullnever affects your scoreInstantissued the moment you pay

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How it works

Three steps to filed.

Your grain buyer license is waiting on this bond. Here is the whole process — no broker phone tag:

TODAY · ONLINE

Apply once, online

Your business details, the bond amount your purchase volume requires, and the effective date. The only extra step is a one-time consent to a soft credit pull.

RIGHT AWAY

Approved

Most are approved as soon as you apply. The soft credit pull never affects your score. If it needs a second look, one to two business days at most.

SAME DAY – 2 DAYS

File with the Department of Agriculture

Pay online and receive the executed bond ready to file with your grain buyer license application or renewal. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the grain bond covers

Minnesota licenses grain buyers through the Department of Agriculture under Minn. Stat. 223.17. A grain buyer files a bond with the commissioner that protects the producers who sell grain to the buyer — it stands behind the buyer’s obligation to pay for the grain it purchases.

The bond amount is tiered to the buyer’s gross annual grain purchases as shown on the most recent purchase report, with first-time applicants filing $50,000 and the largest buyers required to post substantially more (the statute’s top tier reaches $150,000 for purchases above the highest threshold). For entities also licensed as grain warehouse operators under chapter 232, bond and claim rules cross-reference section 232.22.

If a grain buyer fails to pay a producer for grain delivered, the producer can recover against the bond — and if the surety pays, the buyer repays the surety. We issue the amount your purchase volume requires, with pricing from $100 via a soft credit pull only.

Minn. Stat. 223.17Under Minnesota Statutes section 223.17, a licensed grain buyer files a bond with the commissioner of agriculture, in an amount based on the buyer’s most recent gross annual grain purchase report. First-time applicants file $50,000; the amount scales up by tier with purchase volume (the top tier reaches $150,000). For grain buyers also licensed under chapter 232, bond and claim provisions are governed under section 232.22, subdivision 6a. Confirm your required amount on your most recent purchase report.

You need this bond if you are

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A Minnesota grain buyer licensed by the Department of Agriculture

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A first-time grain buyer applicant filing the $50,000 entry-level bond

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Renewing your grain buyer license at an amount tied to your latest purchase report

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Increasing your bond after a year of higher gross grain purchases

One application, issued instantly.

These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.

Start the application →

FAQ

Common questions.

How much is the Minnesota grain bond?The premium is 1% of your bond amount, $100 minimum — set by our carrier’s rate book, not by credit tier. The bond amount itself is tiered to your gross annual grain purchases — first-time applicants file $50,000. Your exact price appears at the application.

How is my bond amount set?By your most recent gross annual grain purchase report. The statute uses purchase-volume tiers; first-time applicants post $50,000, and larger buyers post more, up to the statutory top tier of $150,000. The Department of Agriculture confirms your amount.

Is there a credit check?Yes — one soft credit pull, which never affects your score. Your premium is 1% of the bond amount, $100 minimum, set by our carrier’s rate book — not your credit tier.

Who does the grain bond protect?The producers who sell grain to you. It stands behind your obligation to pay for grain you purchase — if you fail to pay, a producer can recover against the bond, and if the surety pays, you repay the surety.

I am also a grain warehouse — is that the same bond?They are related but distinct. For grain buyers also licensed as grain warehouse operators under chapter 232, the bond and claim provisions cross-reference section 232.22. Send us your license details and we’ll confirm the right coverage.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

Related bonds

Other Minnesota bonds.

The Department of Agriculture is waiting on one document.

Pricing from $100, soft pull only. Enter your required amount and file the same day.

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