Southeastern Agri-Foods, Inc. will sell grain products and wheat in the Midwest, according to a press release.
The company will not have a market share of the Midwest market.
The announcement comes a day after the Midwest AgriLife Association said the state of Iowa would not be able to meet its federal drought targets until May 1.
Iowa’s drought is one of the most severe on record, according the state’s Department of Agriculture.
Southeastern Agribusiness will sell the grain products, which include wheat, corn and soybeans.
The announcement follows a similar announcement last month, when the company announced it was closing its grain market in the state, which had a surplus of the commodity due to high grain prices.
“We’re excited to be part of the next chapter of our legacy of supporting farmers and their families,” said David Hahn, president and CEO of Southeastern.
“We have more than 60 years of experience in agribusia and have helped grow nearly a million acres of our land to this point.
We’re proud to be a part of this new chapter.”
Southeast Agri Foods, Inc., operates a retail grocery store and an organic farm-to-table restaurant in St. Louis.
Bayer Agribusta, which also operates in the region, announced earlier this year that it would also be selling grain products in the area.
About 2.5 million acres in Iowa, New Mexico, Arizona and Utah are in arid or semi-arid conditions.