Last fall, Inverness native Frank Brumfield was just enjoying the day-to-day life that came along with his experience at the Chicago Board of Trade and various business ventures. And over the past few years, Express Grain Terminal with facilities in Greenwood, Sidon and Minter City has undergone much negative press regarding ownership’s unscrupulous dealings with local farmers. Brumfield told the Indianola Rotary Club that his friends and family near and far periodically sent him articles and information about Express Grain and he took the collective provision of information as a sign. “I visited the grain elevator in October of 2021 shortly after it had declared bankruptcy,” Brumfield said. “I knew nothing about the grain business. But I thought back to the time when my father would race in after working on the farm and go a meeting. He was doing his part to make the Delta better. And it is time for the next generation to do the same.”
Brumfield’s address to the Rotary Club oozed with palpable passion that he has for his home area and the legacy that his parents have laid before him. But the journey to this new business venture involved a rocky road and still has miles to go in restoring the trust local farmers have lost after their dealings with the former owners. Brumfield’s mental acquisition plan didn’t necessarily fit with the former owners’ timeline. In his own thinking Brumfield wanted to have the deal to buy the place complete by March of 2021 with big names such as Cargill, Bunge and Farmer’s Grain submitting bids to purchase the facility. “They gave us a credit bid of $25 million and said that their internal appraisal had the facility valued at $60 to $70 million. I told them that if the deal does not go through by May 31, then I am withdrawing my bid.”
By June 30, the acquisition was complete and on July 28, the first loads of corn started being process through the facility. Since that time Delta Grain has taken in three million bushels of corn and five million bushels of beans with a staff of 32 people representing both local labor force and those recruited by Brumfield from previous business ventures. Brumfield is optimistic that 2023 will be a good year for Delta Grain and those volumes could easily double.
Less than a year ago, coming back to the Delta to own a business that he knew little about was not on the new owner’s radar. But Brumfield reflects on what this has meant for the area as he maps out the tough road ahead. “We made 192 unique farm visits to local farmers trying to get them to do business with us and none of them said ‘yes’ right way,” Brumfield explained. “It was a toxic situation that we walked into and we are thankful that they have demonstrated trust in us after what they’ve experienced and with the allegiances they already have.”
“It’s definitely a benefit to the local community and economy when a facility is able to provide nearly three dozen good-paying jobs and I hope that this facility is in my family for the next 50 years and my son or daughter is running it,” Brumfield said. “But if someone comes along and offers a crazy price for it, I’ll sell it tomorrow.”
