ADM-Benson Quinn Joint Venture 20 Dec 11

Archer Daniels Midland-Benson Quinn and United Farmers Coop (UFC) Monday announced the formation of a joint venture that will build and operate a grain elevator in Brownton, MN, with a total storage capacity of 3.6 million bushels. Officials say the elevator, capable of loading 110-car shuttle trains, will feature four receiving pits with the capability to dump 80,000 bushels of grain per hour, and will be located on a Twin Cities & Western rail line that has service from three railroads: Burlington Northern Santa Fe, Canadian Pacific and Union Pacific. The joint venture, United Grain Systems, LLC, will also operate five existing UFC elevators, which will primarily handle corn and soybeans.

“ADM-Benson Quinn is pleased to join with United Farmers Coop to build a new shuttle loader elevator in Minnesota,” said Scott Nagel, president, ADM-Benson Quinn. “This project will expand crop origination and transportation infrastructure in Minnesota, opening new markets for local farmers to sell their products at competitive prices.”

United Grain Systems, LLC will consist of current UFC facilities at Bird Island, Klossner, Lafayette, LeSueur (south elevator) and Winthrop as well as the under-construction greenfield shuttle loader elevator in Brownton. ADM-Benson Quinn and UFC will each own 50 percent of the company.