ADM buys grain elevator in Iowa
August 04, 2009
by Jeff Gelski
DECATUR, ILL. — Archer Daniels Midland Co. has acquired Keystone Mercantile, which runs a grain elevator in Keystone, Iowa. Keystone Mercantile has served the greater Benton county agricultural community since 1905, according to Decatur-based ADM.
The Iowa Department of Agriculture and Land Stewardship temporarily suspended the grain dealer license for Keystone Mercantile Co. on June 4 for violations. Some of the company’s checks had bounced, according to a report published on-line by The Gazette of Cedar Rapids, Iowa.
Keystone Mercantile is a feed mill, grain elevator, lumber yard and building material retailer. It has a grain storage capacity of 1.9 million bus.
"ADM is proud to become a member of the Keystone community and looks forward to adding value to area farmers and the greater community," ADM said in a statement.
For questions regarding current or new cash grain contracts, ADM said to contact ADM Grain, Keystone at (319) 442-3228.