High-value North Dakota farm liquidates

Published online: Feb 15, 2017 News
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ST. THOMAS, N.D. — One of North Dakota's largest high-value crop farms has filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court in Fargo.

McM, Inc., based in St. Thomas, N.D., north of Grand Forks, on Feb. 10 filed a voluntary petition for bankruptcy. The farm is one of the largest farms of high-value specialty crops in the region, including about 39,000 acres, with about 2,000 acres of sugarbeets and about 4,200 acres of non-irrigated potatoes in 2016.

President Ron McMartin Jr., 50, lives in Grand Forks. On Nov. 14, McMartin — a large producer of red potatoes and once the largest sugar beet producer in the region — was the subject of a cover story in Agweek magazine and on AgweekTV in which he indicated he was simply down-scaling his operation and had no plans to exit the field. McMartin didn't immediately return phone messages left with him and with colleagues. His attorney, Jon R. Brakke, declined comment.

McMartin had farmed up to 59,000 acres in 2012 and at one time was the No. 1 sugarbeet farmer in the region with a total of 11,000 acres. He also raises dry beans, corn, soybeans and spring wheat. In November, he said the farm had grossed about $35 million in crops, which was down from a peak of $45 million in crops during the high commodity prices about five years ago.

Source: www.agweek.com