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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.

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 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.