Cargill shutters Indiana port grain elevator
By Mark Weinraub CHICAGO, Feb 2 (Reuters) - Global commodities trader Cargill Inc closed its grain elevator in Portage, Indiana, on Tuesday, accord...
By Mark Weinraub CHICAGO, Feb 2 (Reuters) - Global commodities trader Cargill Inc closed its grain elevator in Portage, Indiana, on Tuesday, according to the company's web site. The elevator, which handled soybeans, corn and wheat, borders Lake Michigan and has a storage capacity of 7.2 million bushels, according to the Grain and Feed Association of Indiana. Minnesota-based Cargill could not immediately be reached for comment on Thursday about why it decided to close the site. Cargill's bids for corn and soybeans delivered to the elevator had been well below bids at nearby competitors in recent weeks, effectively shutting off movement of grain to the facility as it prepared for closing.