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Nyssa grain broker fails, leaving area farmers and financiers owed millions

The Enterprise

NYSSA -- Farmers Grain, the Nyssa-based grain broker that exported wheat and provided corn for area dairies, is bankrupt and will be liquidated.

The company, founded by Vale farmer Galen Jantz, filed for bankruptcy in April, hoping to reorganize a business that posted $31 million in revenue in 2016. In its court filing at the time, the company said it had $14 million in assets and $23.7 million in liabilities. The bankruptcy stated the company owed $8 million to Rabo AgriFinance LLC and the financier’s demand for loan payments prompted the bankruptcy petition.

Rabo subsequently sought a court order to liquidate the firm because its value continued to decline. Rabo said in its court filing that Farmers Grain couldn’t buy the necessary license from the Idaho Department of Agriculture to buy grain in Idaho.

A federal judge in U.S. District Court in . . .