Arkansas grain company costing farmers millions - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Arkansas grain company costing farmers millions

JONESBORO, AR (KAIT) -

The delays of one Arkansas grain company could hit farmers right in their pocket books. They could stand to lose millions of dollars.

Turner Grain Merchandising in Brinkley is at the center of this financial controversy.

The company reportedly delayed or has not paid farmers for their crops.

Representative Nate Steel also serves as the Vice Chair of the agricultural committee and said the delay could have a ripple effect on the agricultural economy.

“Of course it's a local economic problem but certainly this is all tied together. It's all part of a major market, so there are a lot of players involved and it could have ripple effects throughout the economy, not just in the agricultural sector.”

The company could file for bankruptcy, totaling to a loss of millions for Arkansas farmers.

Attorney General Dustin McDaniel said, “It's come to my attention that I even have family members who are personally impacted by this situation. And if the rumors are true then there is a potential travesty in the making for Northeast Arkansas farmers.”

The State Agricultural committee will host a hearing at 10 o'clock Friday morning to gather more information and discuss what steps need to be taken next.

Copyright 2014 KAIT. All rights reserved.

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