John Stewart and Associates (JSA) is a privately-held financial trading business dedicated to helping our clients hedge risk from price volatility by developing strategies and recommendations using futures, options, and swaps. We serve grain elevator companies, ethanol and food processors, feed manufacturers, livestock feeders, and merchandisers throughout the United States.

JSA principals and commercial brokers bring vital insight to the decision-making process, having held positions of authority in commercial grain businesses where they were responsible for the logistics, procurement and sale of grains of all kinds. They have extensive experience in the international grain trade, as well as ethanol and oilseed processing.


JSA began as John P. Stewart, Inc. in 1976 in Albuquerque, New Mexico. John Stewart founded his brokerage firm to provide fundamental analyses based on historical data and John’s own experience as a national/international commercial grain trader. In the mid-1980s, during the USDA PIK certificate program, John partnered with Tom Tucker, and by 1989 Tom had opened a branch office in San Antonio, Texas. 2001 saw the formation of John Stewart and Associates, Inc. (JSA), with John Stewart as trade advisor and head of research, and Tom Tucker and Doug Schultz (Missouri ) as principals. The firm became a guaranteed introducing broker with Iowa Grain at the Chicago Board of Trade (CBOT now part of the CME Group.)  In 2008 Iowa Grain was acquired by ADM Investor Services, Inc. (ADMIS) a subsidiary of ADM focusing on clearing and market information services. At that time JSA became a guaranteed Introducing Broker with ADMIS.

Tom and Doug continued the use of John’s proprietary research and analysis database and expanded its application to other segments of agribusiness, building a customer base of grain elevators, livestock feeders and producers in the Corn Belt. JSA came in on the ground floor of the ethanol processing industry, adding ethanol plants to the client list.  To better serve a growing clientele, JSA opened additional branch offices.  Mike Rokala opened a branch office in 2007 and became a JSA principal in 2011.  In 2012, Brent Baker and Brian Burke opened a branch office and became principals with JSA in 2015.  Gunnar Klish opened a branch office in 2014 and became Director of Research in 2017.

JSA has been exclusively associated with The ProExporter Network (PRX) since 1988, making important contributions to PRX’ s analytical system. This association gives us access to a wealth of proprietary research, historical data, grain logistics and grain system transportation details.