US-based Archer Daniels Midland (ADM) has entered into a 81-20 Grain Terminal joint venture with Central Valley Ag Cooperative (CVA) to establish a bushel shuttle loader grain elevator near Randolph, Nebraska.
The elevator will source corn and soybeans from local farmers, primarily for transportation by 110-car BNSF shuttle trains to export markets through the US Gulf Coast, Pacific Northwest and Southwest.
ADM and CVA will each own 50% of the grain facility, which is expected to begin operating by fall 2014. The facility will feature two receiving pits and one rail receiving pit each capable of dumping 20,000 bushels of grain per hour.
ADM Agricultural Services president Joe Taets said: The new elevator -- along with our global transportation fleet and network of customers -- will provide additional marketing opportunities for regional producers, which can help add value to their crops."
CVA president and CEO Doug Derscheid said: Through this joint venture, ADM will connect those local producers to a vast national and global network."
ADM is engaged in converting oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses and employs 30,000 people across its 270 processing plants, 420 crop procurement facilities.
