Superior Ag purchases Princeton grain elevator

Superior Ag has agreed to terms to purchase the grain elevator with grain storage capacity of 2.2 million bushels located at 719 North Cargill Lane in Princeton. This facility will support all existing Superior Ag grain operations and facilities.

The property was previously owned by Cargill, prior to closing December 31, 2017.

“The opportunity of purchasing this facility was researched significantly when we heard of the closure of the Cargill facility,” said Barry Day, President & CEO at Superior Ag. “When the opportunity became available, our team along with the Board of Directors were able to act swiftly in purchasing this facility.”

Superior Ag is anticipating hiring three additional employees to aid in the operations of the new facility. No disruption to existing contracts with area farmers is expected.

“With the purchase of this facility, we are adding much-needed capacity to our local grain operations and positioning for future growth throughout our cooperative footprint. The permanent closing of this facility could have led to logistical concerns for local farmers, especially in the busy fall season,” said Nick Michel, Grain Division Manager at Superior Ag. “This facility will open up much needed storage, while still allowing for the flexibility of delivering grain to the best market, which our customers have grown accustomed to. We look forward to the opportunity of providing increased value to our current customers and building new relationships with growers who will find value in the services we provide.”

Superior Ag currently has 4.4 million bushels of on-site grain storage, and this addition will increase Superior Ag’s total on-site grain storage to 6.6 million bushels.