Cargill, Agrex to Form Dana, Ind., Joint Venture

DANA, Ind., July 29, 2011 /PRNewswire/ — Cargill AgHorizons, a business unit of
Cargill, and Agrex Inc, a wholly owned subsidiary of Mitsubushi Corporation,
announced they are forming AC Grain, LLC, a 50-50 joint venture that will own
and operate Cargill’s grain elevator in Dana.

The joint venture will make significant improvements to the Dana facility aimed
at serving farmer customers. To be completed by harvest in 2013, the
modernization project could eventually more than triple the unload capacity and
warehouse space for corn, soybeans and wheat originated at Dana. Rail track
space will be increased from a 65-car capacity to a 90-car capacity, and rail
load capacity will be increased from 20,000 bushels per hour to approximately
50,000 bushels per hour. Grain drying capacity will be quadrupled. While the
work plan is still under development, the total investment is expected to exceed
$20 million.

“For our farmer customers, these upgrades will reduce unloading times, provide
more storage space and expand the marketplaces for the delivery of grain,” said
Doug Childers, regional Farm Services Group leader for Cargill. “For our
customers who process corn and soybeans, we will strengthen our ability to take
care of their needs.”

The Dana facility currently supplies corn to processors in the southeast United
States and also is seeing growing demand from ethanol plants in Indiana and
Ohio. Soybeans are sent mainly to Cargill’s oilseed processing facilities in the
southeast.

Hiroshi Fukuchi, president and CEO of Agrex, said: “For the Dana marketplace,
the joint venture will provide additional outlets through both Agrex’s export
terminal in Mobile, Ala., and the domestic sales channels through our office in
Bowling Green, Ohio. These outlets will provide new marketplaces and contribute
to the local farming community.”

About Cargill

Cargill AgHorizons (www.cargillag.com) is a customer-focused organization
working to bring product and service solutions to producers. It is a business
unit of Cargill, which is an international producer and marketer of food,
agricultural, financial and industrial products and services. Founded in 1865,
the privately held company employs 131,000 people in 66 countries. Cargill helps
customers succeed through collaboration and innovation, and is committed to
applying its global knowledge and experience to help meet economic,
environmental and social challenges wherever it does business. For more
information, visit www.cargill.com.

About Agrex Inc

Agrex Inc is a full-service commodity trading company, trading grains, oilseeds,
oils, feed ingredients, food ingredients. The company is headquartered in
Overland Park, Kansas, and is a wholly owned subsidiary of Mitsubishi
Corporation. 90% owned by the Mitsubishi Corporation, Tokyo, Japan and 10% owned
by Mitsubishi International Corporation, New York. For more information, visit

http://www.agrexinc.com

SOURCE Cargill