Our Management Team

Michael J. Brinati

Michael is President, Chief Executive Officer, and Principal of Iowa Grain Company. Mr. Brinati has actively participated in executive management since joining the company in 1984. Shortly after the commencement of his tenure at Iowa Grain, he assumed responsibilities as an Officer and Director of the firm. In 1987, Mr. Brinati became a Vice President of the company. Four years later, Mr. Brinati was elected Iowa Grain’s President and Chief Executive Officer. During the late 1990’s, Iowa Grain managed the development of Oak Software which became an industry standard for electronic order entry and risk management. These advancements assisted to the formation of Iowa Grain Prop Group which consisted not only of individual traders, but was one of the CME 20 algorithmic trading groups.

In April 1987, Mr. Brinati received nomination for and accepted an appointment as a Board of Trade Clearing Corporation Governor. He served two additional terms and was appointed 1st Vice Chairman in addition to serving on the Business Development, Audit, Compensation and Risk Committees. Shortly after entering the Chicago Board of Trade, Mr. Brinati registered with the U.S. Commodity Futures Trading Commission (CFTC) as a floor broker. Throughout his career, he has owned a variety of memberships at the CBOT and CME. While on the floor of the Chicago Board of Trade, Mr. Brinati was a floor broker for a variety of customer, commercial, and fund accounts along with being a proprietary trader in the soybean quadrant. He holds a Bachelor of Science degree from Northern Illinois University which he received in 1983.

Mr. Brinati has been a member of the Chicago Board of Trade since 1984. Within the former Chicago Board of Trade committee structure, he served on a number of CBOT Committees, including the Soybean, Soymeal and Soyoil Committees, as well as the CBOT Finance & Operations, Computer and Telecommunications Committees. Along with these duties, Mr. Brinati served as a director of other private and public companies.

Jack Frymire

Jack was raised on a large grain farm in western Illinois. After graduating from Iowa State University, he activated an accomplished trading career and joined Iowa Grain in 1986. Jack Frymire has been a professional commodities trader since 1986 and has held memberships with the Chicago Board of Trade, Chicago Mercantile Exchange, and Minneapolis Grain Exchange. As a trader in the grain pits, Jack earned immediate respect due to his logical and theoretical approach to the grain markets. His experience was evident to his peers and Mr. Frymire was elected to the Chicago Board of Trade’s Board of Directors in 1997. Jack was selected by the CBOT to be one of the first administrators of its X-Funds, the CBOT’s innovative exchange-traded index futures contracts launched in 2002.

Being raised on a farm gave Jack specific insight and knowledge into the commodities markets which he used to generate specific trading strategies. He utilizes his hands-on participation in the farming community and expert execution skills to capitalize on market opportunities. Jack recognizes that an exact approach to market participation is required for long-term success and studies these markets relentlessly. Mr. Frymire’s role as a fundamentalist was pivotal in bringing Iowa Grain to the eminent stature it holds today.

David Frymire

David grew up in western Illinois where he helped manage and maintain his family’s corn and soybean farm. After graduating from Iowa State University in 1986, David became a floor broker in the grain pits of the Chicago Board of Trade, and shortly thereafter embarked on his role as Principal of Iowa Grain Company. David’s hands-on experience as both a farmer and trader played a crucial part in cultivating the success of Iowa Grain Company, one of the commodity industry’s most trusted firms.

David is often sought out by industry professionals for his risk managing abilities, hedging strategies, and grain merchandising advice. Traders, colleagues, and customers of Iowa Grain constantly turn to David for an outlook on the grain markets. In addition to maintaining a leading role at Iowa Grain, David has been a primary administrator and owner of several farming operations for over 20 years. David recognizes the importance of hedging with the commodity markets and overseas market strategies.

Justin Kelly

Justin grew up in Western Illinois working on his family’s farm. He attended Purdue University and graduated with a Bachelors of Science in Agribusiness Management in 2002. After graduation he began working for Iowa Grain Company’s research department and became a CBOT member and corn pit broker. Justin left the trading floor in 2006 to become the President of EHedger where he helps agricultural producers and lenders manage their risk. In 2007 Justin designed the first version of AgYield’s software platform and he continues to manage the developmental stages and key advancements of the state-of-the-art software.

Mark Pacelli

Mark came to the Chicago Board of Trade in 1972 after graduating from John Carroll University. Soon after coming to the CBOT, Mark began working directly with Dick Frymire, the founder of Iowa Grain Company. Mark’s hard work and fundamental knowledge of the grain markets allowed him to work his way up to become a Principle and an extremely valuable member of Iowa Grain Company.

Over the years Mark has worked directly with some of the largest commercial firms in the industry. In addition, Mark has spent a number of years advising large fund traders on the grain markets. Also, he has owned and managed a number of farms over the years.