Thief River Falls Minnesota USA - Riverland Ag Corporation, a subsidiary of Ceres Global Ag Corporation, has entered into an agreement with Farmer's Co-op Grain and Seed Association (FCGS) to form a grain merchandising joint venture to be based in Thief River Falls, Minnesota.
 
FCGS will contribute its existing grain elevator and related grain merchandising assets in Thief River Falls to the joint venture, with Riverland contributing cash.
 
The transaction is expected to close in January 2021.
 
After closing, the joint venture will pursue an expansion project designed to enable unit train loading.
 
The facility will be served by Canadian Pacific.
 
FCGS will continue to operate its non-grain merchandising businesses independent of the joint venture.
 
The new facility will meet CP's 8,500 foot high efficiency product standards, said Joan Hardy, CP's vice president of sales and marketing for grain and fertilizers.
 
Author unknown.