- Location
- Lincolnshire
There’s a statement that the silos were re-measured and found to not actually be the same size/ capacity as the nameplates on them, which may explain some of the discrepancy. Whatever way, it seems criminal that they can have effectively sold grain that they didn’t own. It doesn’t help that the stuff is fungible though - so who knows who owns which actual grain?
If I were the company stock takers/ accounts auditors, I’d be checking my insurance documents very carefully.
FML how would they explain their RT "mass balance" if a grain store doesn't know how much grain they have in stock? Volume X density isn't tricky really is it for physical stock. And is a bit different than only having ten percent of futures sales in actual grain. Let's hope that those responsible don't do well from those who end up with 5p in the pound for their grain.