• Golden Growers Cooperative

    Golden Growers Cooperative (GGC) was formed in 1994 to create a value-added processing opportunity for corn growers in the Dakotas and Minnesota, and currently has about 1,500 members.

  • Built On Partnerships

    GGC and Cargill Inc. are 50/50 partners in the ownership of ProGold, LLC. ProGold owns a corn wet-milling plant near Wahpeton, North Dakota.

  • Always Growing

    In September, 2009, the co-op was re-organized under Minnesota’s statute 308B, which allows GGC to function as a cooperative but be taxed as a limited liability partnership.

GGC News

‘A Change of Partners’ – Harless discusses the ProGold partnership with Cargill

Chairman Mark Harless reviewed the change in ownership of ProGold LLC. “On March 1st, Cargill purchased 50% interest (in ProGold) from American Crystal Sugar Company and Golden Growers Cooperative purchased American Crystal’s remaining 1%. The next result is that Cargill and Golden Growers each own 50% interest in ProGold, LLC.” Harless indicated that MDU’s August decision to build a natural gas pipeline to Wahpeton was a key issue for Cargill to consider exercising its option. Harless…

Mike Wagner highlights ‘Stability’ and ‘Certainty’

Cargill’s Managing Director for Cargill’s Starches, Sweeteners, and Texturizers North American Business, emphasized the importance of stability and certainty for the Wahpeton corn wet milling plant. “I couldn’t imagine not having Wahpeton in our corn milling network,” stated Mike Wagner. “On February 24th, when we held a ‘virtual announcement’ about our agreement, Wahpeton employees offered a sustained ovation. I knew what the announcement meant to me, but it meant much more to them…

Stofferahn: Information available to determine value

Scott Stofferahn stressed that while the GGC Board believes that the recent agreement with Cargill is favorable to Unit values, GGC will not offer an opinion on the value of Units. “How units are valued is up to each one of you as members. But all of the information you need to make that judgement is available to you.” Stofferahn said. GGC’s balance sheet, future lease payments, the potential for a future JV and potential associated costs, the guaranteed buyout value should no agreement be…

Events

Golden Growers Cooperative

Golden Growers Cooperative (GGC) was formed in 1994 to create a value-added processing opportunity for corn growers in the Dakotas and Minnesota, and currently has about 1,500 members. GGC and Cargill Inc. each own own 50% of ProGold LLC. ProGold owns a corn wet-milling plant near Wahpeton, North Dakota. The ProGold plant makes high fructose corn sweeteners, corn gluten feed and corn gluten meal. The plant also separates corn germ which is sold for production of corn oil. Since, 1997, the ProGold plant has been leased to Cargill, Inc., which operates the plant and markets all of its products. The current lease agreement extends to December 31, 2026.

In September, 2009, the co-op was re-organized under Minnesota’s statute 308B, which allows GGC to function as a cooperative but be taxed as a limited liability partnership. At that time, GGC opened its membership to residents of the 50 states and non-corn producers. All members do, however, have an annual corn delivery obligation that can be met by actual corn deliveries or by appointing GGC as its agent to arrange for delivery of their commitment. Members are required to own a minimum of 4,000 Units, and each member’s corn commitment is one bushel per Unit of ownership.

Persons interested in learning more about acquiring GGC Units should contact FNC Ag Stock, LLC at (701)780-2828 and ask for Nick or Andy, or email to info@fncagstock.com.

Partners

© Copyright - Golden Growers Cooperative.