Ceres makes deal with London Agricultural Commodities
November 30, 2018
Minnesotan logistical company Cere Global Ag Corp announced on 14 November that it had entered into an agreement with Canadian agricultural commodity merchant London Agricultural Commodities (LAC) to provide it with storage and handling services in Ceres’ export grain elevator in Port Colborne, Ontario, World Grain reports.
The agreement takes effect on 1 July 2019, with Ceres continuing to operate the elevator and offering transport and storage services to LAC and its customers.
Ceres said most of the elevator would be used to store and handle LAC’s products such as soyabeans, wheat and corn. A small portion of the elevator would be used to handle Ceres’ own product.
“This agreement connects the Port Colborne elevator to LAC’s vast origination network in Ontario and will allow Ceres to more effectively utilise its capacity and capabilities,” said John Carroll, vice-president of risk management and trading at Ceres.
Ceres operates three facilities in Minnesota, one in Saskatchewan and one in Ontario. Its facilities throughout North America have a grain and oilseed capacity of about 29.7M bushels.