700,000 ton urea off-take agreement secured
CHS Inc., a leading energy, grains and foods company and the nation's largest farmer-owned cooperative announced it will serve as the exclusive off-take company for urea fertilizer produced by the Summit Texas Clean Energy Project, LLC plant at Penwell, Texas. CHS will also be a minor investor in the project. The plant is expected to generate up to 700,000 tons of urea annually.
"The ability to source high-quality, domestically produced urea will help enhance and streamline our operations while providing consistent supply to customers throughout the region," said Cheryl Schmura, CHS vice president, crop nutrients. CHS is among the largest U.S. importers of agricultural grade urea.
"As a farmer-owned cooperative, CHS is committed to increasing value for our owners and customers through partnerships that optimize our supply chain efficiencies and that fit our business aspiration of global commodities expansion," Schmura said. She added that CHS was selected for the contract because of its tight linkages to local retailers and growers, market strength and logistical expertise, including rail and truck capabilities to move high tonnage safely and efficiently.
- Farm Market iD releases 2013 Land and Grower Database
- Even in isolated, pristine Tasmania, pressure for GMO farming
- Grains dipped Tuesday while the other markets climbed
- Cattle, soybeans climb Tuesday morning
- Maire Tecnimont to build $1.6 billion U.S. fertilizer plant
- Corn price premiums continue to fade