Why Does A Hedge Fund Buy A Grain Elevator?
“The 11-million-bushel grain elevator in Duluth, Minnesota, was built by Cargill in 1978 and employs 15 people.” Click for article • Cargill to sell Minnesota grain elevator • Reuters • January 15, 2008 On the surface, it sounds curious enough but not like a big deal. But our understanding from talking with people is that this is one of the largest elevators in the Midwest and a very strategic one at that. Because of its access to the ocean through the St. Lawrence seaway they can load up “salties” for export to the world.
