Hansen Mueller Issues?
Anyone in ag space know what the heck has happened to them over the last few months? Heard they laid off a bunch of their staff recently.
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Sinking ship there. Likely dead before the end of the year
We got the warning from credit a few weeks ago to avoid doing any biz with them. Winding down all exposure with them. They're going to get their grain broker license revoked (if not already) for not paying farmers for the last 2-3 months.
Don't know the catalyst but it seems like its a long time coming, when the son took over the biz they went on a big spending spree to try and get in the likes of the major trade houses buying assets across the US, not realizing they were major shitholes and money sinks. They never made any return on their investment, just a cast of misfit toys sold off from the other majors. Case in point their Houston "elevator" that cant load direct from the house to the boat.
Christ, yeah looks like Nebraska is firing the first shot on revoking a license so this is probably it. Couldn't wrap my head around the idea of them going out of business since from covid until last year grain markets had decent flat price and basis volatility to buoy merchants and this past year there wasn't any way to really blow yourself up on a single trade. As you noted though if you overpay for a bunch of stuff that doesn't make any money you will run out of money.
https://www.dtnpf.com/agriculture/web/ag/news/business-inputs/article/2025/10/27/nebraska-grain-dealer-license-38-2
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