Cargill forms joint venture for Aberdeen grain elevator
(Reuters) — U.S. agribusiness giant Cargill Inc. said on Wednesday it formed an equal partnership to operate a South Dakota grain elevator with a storage capacity of 2.5 million bushels of grain along rail tracks owned by BNSF Railway Co.
Cargill formed the joint venture with Concord Grain LLC, solely owned by farmer Todd Ochsner, to run a newly built elevator that can load 110-rail car shuttle trains in the state which ranks No. 6 in growing corn and No. 8 in soybeans. The joint venture in Aberdeen, in the northeast part of the state, will expand Cargill’s reach in a region that has increased its production of corn and soybeans in recent years. The market helps feed export facilities in the Pacific Northwest, primarily shipping to customers in Asia.