Oilseeds Processing
The Company is engaged in processing oilseeds such as soybeans, cottonseed,
sunflower seeds, canola, peanuts, flaxseed and corn germ into vegetable oils
and meals principally for the food and feed industries. Crude vegetable oil
is sold "as is" or is further processed by refining, bleaching and
deodorizing into salad oils. Salad oils can be further processed by hydrogenating
and/or interesterifying into margarine, shortening and other food products.
Partially refined oil is also sold for use in chemicals, paints and other industrial
products. Oilseed meals are primary ingredients used in the manufacture of commercial
livestock and poultry feeds. Cottonseed flour is produced and sold primarily
to the pharmaceutical industry. Cotton cellulose pulp is manufactured and sold
to the chemical, paper and filter markets.
Golden Peanut Company LLC, a joint venture between the Company and Alimenta
(U.S.A.), Inc., is a major supplier of peanuts to both the domestic and export
markets. The Company has a 50% ownership interest in this joint venture.
The Company participates in various joint ventures that operate oilseed crushing
facilities, oil refineries and related storage facilities in China and Indonesia.
Corn Processing
The Company is engaged in wet milling and dry milling corn operations. Products
produced for use in the food and beverage industry include syrup, starch, glucose,
dextrose, and sweeteners. Corn gluten feed and meal as well as distillers grains
are produced for use as feed ingredients. Ethyl alcohol is produced to beverage
grade or for industrial use as ethanol. In gasoline, ethanol increases octane
and is used as an extender and oxygenate. Corn germ, a by-product of the milling
process, is further processed as an oilseed.
Almidones Mexicanos S.A., of which the Company has a 50% interest, operates
a wet corn milling plant in Mexico.
Wheat Processing
The Company is engaged in milling wheat, corn and milo into flour. Wheat flour
is sold primarily to commercial bakeries, food companies, food service companies
and retailers. Bulgur, a gelatinized wheat food, is sold to both the export
and the domestic food markets. Corn meal and flour is sold primarily to the
cereal, snack and bakery mix markets. The Company produces bakery products and
mixes which are sold to the baking industry. The Company also mills milo to
produce industrial flour used in the manufacturing of wallboard for the building
industry.
Agricultural Services
The Agricultural Services segment utilizes the Company's extensive grain elevator
and transportation network to buy, store, clean and transport agricultural commodities,
such as oilseeds, corn, wheat, milo, oats and barley, and resells these commodities
primarily as feed ingredients and as raw materials for the agricultural processing
industry. Agricultural Services' grain sourcing and transportation network provides
reliable and efficient services to the Company's agricultural processing operations.
A.C. Toepfer International and affiliates, in which the Company has an 80%
interest, is a global merchandiser of agricultural commodities and processed
products. Toepfer has 39 sales offices worldwide.
The Company owns a 62% interest in Heartland Rail Corporation. Heartland's
80% owned affiliate, Iowa Interstate Railroad, operates a regional railroad
in Iowa and Illinois.
The Company has a 45% interest in Kalama Export Company, a grain export elevator
in Washington.
The Company owns a 20% interest in Agricore United, one of Canada's leading
agri-businesses.
Other
The Company processes cocoa beans and produces cocoa liquor, cocoa butter,
cocoa powder, chocolate and various compounds for the food processing industry.