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ADM, Cargill to exchange river-based grain elevators

Archer Daniels Midland and Cargill both confirm they’ve reached an agreement to exchange ownership of some grain elevator facilities in Indiana and Illinois. ADM is selling Cargill its Illinois River grain facilities in Beardstown, Naples, and Keithsburg, Illinois, Jackie Anderson, a spokesperson at ADM told Brownfield Ag News, Friday. Meanwhile ADM will acquire Cargill’s Ohio River grain facilities at Mount Vernon and Evansville, Indiana.

Cargill’s Mount Vernon and Evansville, Indiana, elevators are a great fit for ADM, said Anderson, allowing the company to better serve its customers in that area.

The transaction will enable Cargill to increase efficiency and better execute the company’s growth strategy, said Victoria Bagley, a spokesperson at Cargill.

Financial terms of the transaction won’t be disclosed, according to Bagley.

Both Bagley and Anderson say they hope to finalize due diligence and complete the transaction in the coming weeks.