New Joint Venture to Invest $27M in Missouri Grain Facility
Grain marketing and agricultural supply company, MFA Inc. has partnered with MFA Oil Co. to jointly invest between $27 million and $28 million for the construction of a grain handling facility on the Union Pacific Railroad outside of Hamilton, Missouri.
The new, high-speed facility will include two million bushels of permanent storage, 1.5 million bushels of temporary storage, and a loop rail siding that can accommodate a 110-car ‘shuttle’ unit. Once completed, the project will provide grain farmers located in north central Missouri and southern Iowa to deliver their crops to a highly efficient facility that can gain access to new markets.
“There is a lot of grain produced in north central and northwest Missouri, and harvest is a critical time for farmers. MFA’s investment in the shuttle loader will directly benefit farmers by providing them a place to unload quickly during peak harvest season,” said Adam McIntyre, regional manager for MFA in a company statement. “It also helps relieve harvest-time pressure on existing MFA grain receiving facilities throughout the region.”
Founded in 1929, MFA Inc. is a farmer-owned cooperative serving more than 45,000 farmers and ranchers across Missouri, Arkansas, Oklahoma, Kansas and Iowa with marketing, agronomy inputs, feed and animal health products, precision ag solutions and financial services through its 145 locations.