Minneapolis Grain Exchange sold after 139 years

Published: Nov. 27, 2020 at 7:48 AM CST
Email This Link
Share on Pinterest
Share on LinkedIn

EAU CLAIRE, Wis. (WEAU) - Even though the Minneapolis Grain Exchange isn’t going away, it will be different. The Exchange, which has operated for 139 years, has been sold. A relatively new player in the financial and commodities industry, Miami International Holdings, headquartered in New Jersey, is buying the Exchange for $111 million. The purchase price comes to $275,000 for each of the exchanges 402 members who approved the sale last month. The sale includes the downtown building which the new owners will keep as its headquarters. The Minneapolis Grain Exchange is the last independent Ag futures exchange in the country. The deal will be finalized sometime in December.

New numbers from the USDA in Washington show the federal government has paid farmers across the country 20 and a half billion dollars in Coronavirus Relief funds since last winter. Iowa farmers have gotten the most so far with $1.9 billion or about 9% of the total. Cattlemen, as a group, have gotten 6 and a half billion dollars so far followed by corn growers at just over 4 and a half billion. The deadline for farmers to sign-up for aid under the second Coronavirus Food Assistance Program is December 11th, which is also the day the USDA will de-fund or shut off payments under the first CFAP program.

The new U.S.-Mexico-Canada Free Trade Agreement was supposed to give American fruit and vegetable growers some protection from Mexican imports. But the numbers don’t show that happening. USDA economists are reporting shipments of Mexican produce are coming into this country at a double digit increase from last year-up by 11%. Shipments are up for Mexican tomatoes, peppers, cucumbers, avocadoes and squash.

Yields around the state and across the country were big this year-especially for corn. If you think you had a bin buster and want to see how it compares to other farmers’ yields around the country, you only have a couple days left to enter this year’s National Corn growers’ Association Yield Contest. The deadline is this coming Monday, November 30th. You can enter your yields online and the results will be released December 14th. This is the 56th year of the contest. Last year almost 7,500 corn growers entered in the various categories.

Copyright 2020 WEAU. All rights reserved.