ST. LOUIS (AP) - Agri-Bunge LLC, a joint venture between Agri Industries, a farmer-owned cooperative, and Bunge North America, the North American operating arm of global soybean processor Bunge Ltd. said Wednesday it will provide Fulton Ethanol LLC with services and corn for a proposed ethanol plant in Fulton, Ill.
Financial terms were not disclosed.
The 108-million gallon per year plant will need 40 million bushels of corn from farmers in the area.
Fulton Ethanol LLC was formed to develop the plant and solicit funding. With the agreements, Agri-Bunge becomes an investor in Fulton Ethanol, along with a number of local agricultural and business interests.
Agri-Bunge will be the exclusive provider of corn for the plant. A separate agreement calls for Bunge North America to market the ethanol produced. It will also sell dried distiller's grain, a cereal byproduct of the ethanol process.