The way you describe the situation is a little misleading Paul. There is actually a completely new company being created that the coop will own half of. To the best of my understanding ADM contributed most of the money for the rail loop facility while the coop contributed its old grain facilities to form the new company. The coop claims that what they received for the facilities was way above book value and by contributing the facilities instead of cash they did not have to take on extra debt. Also grain marketing is only a part of the coop's business. The farm equipment, agronomy, feed, and other divisions are in absolutely no way controlled or owned by ADM. Don't be so skeptical about not seeing any dividends.
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Today's Featured Article - Field Modifications (Sins of the Farmer) - by Staff. Picture a new Chevrolet driving down the street without it's grill, right fender and trunk lid. Imagine a crude hole made in the hood to accommodate a new taller air cleaner, the fender wells cut away to make way for larger tires, and half of a sliding glass door used to replace the windshield. Top that off with an old set of '36 Ford headlight shells bolted to the hood. Pretty unlikely for a car... but for a tractor, this is pretty normal. It seems that more often than not they a
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