- Afternoon Market Update: #corn +3/4, #soybeans +10 3/4, and #wheat -5 at the close today
- Morning Market Update: #corn +1 1/4, #soybeans -1, and #wheat -1/4 after the overnight trade
- Happy #Thanksgiving from all of us at Elburn Coop. #Retweet to #ThankAFarmer this #holiday season! #TurkeyDay #RT https://t.co/wW5nPBr4sz
- Afternoon Market Update: #corn -2 1/2, #soybeans +1/4, and #wheat -11 1/2 at the close today
- Morning Market Update: #corn -3, #soybeans -3/4, and #wheat -4 1/4 after the overnight trade
Thursday, November 26, 2015
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elburn cooperative and chs inc. to enter into discussion on joining operations
FOR IMMEDIATE RELEASE
October 23, 2015
Elburn Cooperative and CHS Inc. to Enter into Discussion on Joining Operations
ST. PAUL, MINN., Oct. 23, 2015 – Elburn Cooperative, a diversified agricultural retailer based out of Sycamore, Ill., and CHS Inc., the nation’s leading farmer-owned cooperative based out of Inver Grove Heights, Minn., have signed a letter of intent to pursue a potential business merger.
The proposed business agreement is subject to final details and would be voted upon by Elburn Cooperative’s voting producer-members. The CHS Board of Directors would also need to vote its approval. The parties intend to submit the transaction for approval before the end of the year.
“CHS and Elburn Cooperative have been great business partners for years,” explained Board Chairman Tracy Jones, Elburn Cooperative. “It is natural that we would look to their Country Operations model as a way to add value to our patron owners.”
“CHS is always looking for initiatives to help our farmer-owners grow their operations,” said Lynden Johnson, executive vice president, Country Operations division of CHS. “We have enjoyed a solid business relationship with Elburn Cooperative over the years and believe we can bring area producers even more value by aligning our operations further.”
Elburn Cooperative (elburncoop.com), in business since 1921, serves its owner-farmers as a full-service supplier of agronomy, feed, seed, energy and grain marketing services from 12 locations in north-central Illinois and south-central Wisconsin.
CHS Inc. (chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document and other CHS Inc. publicly available documents contain, and CHS officers and representatives may from time to time make, “forward–looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Report Act of 1995. Forward–looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Forward–looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of CHS control. CHS actual results and financial condition may differ materially from those indicated in the forward–looking statements. Therefore, you should not rely on any of these forward–looking statements. Important factors that could cause CHS actual results and financial condition to differ materially from those indicated in the forward–looking statements are discussed or identified in CHS public filings made with the U.S. Securities and Exchange Commission, including in the “Risk Factors” discussion in Item 1A of CHS Annual Report on Form 10–K for the fiscal year ended August 31, 2014. Any forward–looking statements made by CHS in this document are based only on information currently available to CHS and speak only as of the date on which the statement is made. CHS undertakes no obligation to publicly update any forward–looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.