Bunge buys two Indiana grain elevators

By Reuters
Posted Nov. 5, 2010 at 6:07 p.m.

Bunge North America, a division of agribusiness giant Bunge Ltd., said it bought Indiana-based Morristown Grain Co Inc, which includes two grain elevators in Morristown and Rushville.

The two elevators have a combined storage capacity of more than 6 million bushels and can support handling and loading of corn, soybeans and wheat, the company said in a statement released on Thursday.

“Because the elevators support 90-car unit trains, we hope to be able to co-load corn and soybean meal from Bunge’s Morristown soybean processing plant to more efficiently reach our customers in the U.S. poultry markets in the Southeast as well as expand our export program through the Port of Brunswick, (Georgia, on the U.S. East Coast),” said Bailey Ragan, vice president and general manager, Bunge Grain and U.S. Oilseed Processing.

Bunge did not disclose financial terms of the deal.

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