Soybean processor AGP buys Aberdeen elevator Concord Grain

Dominik Dausch
Farm Forum

Ag Processing, Inc., which operates a soybean plant on the northeastern edge of Aberdeen, has bought Concord Grain.

Commonly called AGP, Ag Processing, Inc., is based in Omaha, Nebraska. Both businesses confirmed the transaction Thursday.

Erin Ochsner, a member of the family that owned Concord Grain, said in a phone call that the business was purchased outright with the deal finalized April 1. The Concord Grain elevator on the west side of Aberdeen includes four grain bins.

"(We) plan to probably shut down — gonna try to stay open for a couple of years, maybe a year," Ochsner said when asked about the future of Concord Grain.

She declined further comment.

Concord Grain entered into a 50/50 joint venture with Cargill, one of the world's main agriculture producers and distributers, in 2013.

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Matt Caswell, vice president of member and corporate relations for AGP, said during a phone interview that company purchased the assets of Concord Grain in order to increase the soybean storage capacity for the Aberdeen processing plant. He called it a "mutually agreed to business deal."

The transaction includes four grain bins with a maximum capacity of 4 million bushels, as well as an on-site railroad line, Caswell said. It does not include any cropland owned by Concord.

Standing storage contracts between local farmers and Concord Grain will be honored by AGP, he said.

The elevator will dedicated solely to storing soybeans, and future storage contracts will be reserved exclusively for use by AGP members, Caswell said.

Dominik Dausch is the agriculture and environment reporter for the Argus Leader and editor of Farm Forum. Follow him on Twitter and Facebook @DomDNP and send news tips to ddausch@gannett.com.