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Delta Grain Company now fully open for business at the bankrupt Express Grain's former warehouses

Thursday, July 28, 2022, 7:00 pm News Flash Archive

Today, Delta Grain Company announced on its Facebook page that it received its first grain delivery from Ryan Ragland.

According to Delta Grain:

First delivery of the year here at Delta Grain! Ryan Ragland's trucks were the first to cross the scales today delivering high moisture corn at 18.3% moisture. Ryan is taking advantage of the 2022 Grain Drying Program at Delta Grain.

Delta Grain is touting its capabilities to receive high moisture corn, which can be harvested earlier. It claims that the benefits of early harvest outweigh the modest cost to dry the corn.

Delta Grain is circulating a flyer promoting these benefits. The flyer may be seen here: Delta Grain 2022 Grain Drying Program

According to the company, early harvesting of high moisture corn will forestall a variety of possible damages to the crop, and will provide advantages to the farmer:

Shorter elevator lines
More trucks available
Start field work earlier
Harvest time management
Receive your cash quicker

Delta Grain Company has been licensed by the Mississippi Department of Agriculture and Commerce at both its Sidon and Minter City locations as both warehouse operators and grain dealers. To view the licenses, click here: Delta Grain Licenses

Meanwhile, the bankruptcy court has approved the sale of 34 "vehicles and trailers" which Express Grain still possesses, and which had no liens or security collateral entanglements. EG was asking for $294,360 in all, but the high bid came in at $280,000 for the whole lot. Frank Brumfield, the owner of Delta Grain Company, purchased them all with the court's approval yesterday.

To see a list of the vehicles and prices, as well as the court's order, click here: Order Approving Sale of 34 Vehicles and Trailers

Meanwhile, the Greenwood oil mill property is supposed to be finally sold to Thoroughbred Agrifuel Holdings by the end of July. Thoroughbred has requested, and obtained, a special deviation in the amount of the normally required utility "deposit" to Greenwood Utilities.

Normally, a commercial customer must deposit two times' worth the highest monthly bill in the prior year. In the case of the oil mill, that amount totals $250,000.

However, Thoroughbred does not expect to begin processing significant volumes of soybeans until September or October of this year.

Greenwood Utilities' CFO Blake Magee proposed setting the initial deposit at $48,700, with the requirement that as the oil mill's electric bill grows larger, the deposit will also increase.

Ironically, Magee served as Express Grain's Controller up until June 2020 when he left EG and became GU's CFO.

GU will be installing the new AMI meter technology at the oil mill, which provides real-time metering and remote monitoring by GU of electrical usage. The account will be set up so that GU can draft Thoroughbred's bank account directly in the case of increased usage.

To view the Utility Commission's discussion of this matter, click here: Greenwood Utilities Commission Meeting, July 19, 2022

The discussion regarding Thoroughbred's request begins at the 2 minute mark.


To read all our coverage of the Express Grain bankruptcy case, see here: Index of Express Grain articles

 

John Pittman Hey
The Taxpayers Channel

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