Dive Brief:
- Cargill says it will invest $45 million to build a new grain-handling facility on the banks of the Mississippi River in West Memphis, AK.
- The agribusiness giant says the facility will purchase corn, sorghum, wheat, and soybean, then process it for shipment down river to export terminals in the Gulf of Mexico.
- The new terminal will be capable of loading eight grain barges per day.
Dive Insight:
West Memphis, located directly across the river from the bustling city of Memphis, TN, is part of an agricultural-transportation hub on the Mississippi -- Cargill already operates a grain elevator just north of the town. Cargill's main competitors are there as well. Bunge Ltd and CGB Enterprises operate in West Memphis, while ADM has a facility on the Tennessee side of the river.