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Garcia Grains, a Donna-based grain storage and buying company in the Rio Grande Valley, filed for bankruptcy protection after an audit found $20 million of grain missing from its inventory. Its licence was suspended, and four of its locations are closed.
Local growers expect less storage and fewer unloading points at harvest, and some farmers are unpaid.
Fewer elevators in the Valley could lower local sorghum bids and raise handling costs at harvest, pressuring farm-gate prices for growers who depend on regional storage.
borderreport.comJoe De LeonApr 4, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
