OMAHA, NEBRASKA, U.S. — The Scoular Company and Hi-Pro Feeds Inc. announced on April 30 that Scoular has acquired Hi-Pro’s corn processing facility in Dexter, New Mexico, U.S.
The Dexter corn processing facility, built in 2002, produces steam-flaked and rolled corn. It includes a shuttle train loop track connected to BNSF’s Southwestern line capable of handling a 110-car unit train and storage capacity for 850,000 bushels of corn. Terms of the transaction, scheduled to close on May 5, were not disclosed.
“We will focus on bringing corn to the area as efficiently and cost-effectively as possible for use by eastern New Mexico dairy operations,” said Bob Ludington, Scoular’s chief operating officer.
Merchandising and accounting for the facility will be directed by Curt Greiner in Scoular’s office in Omaha, Nebraska, U.S.
“We are confident that Scoular, with its deep understanding of grain trading and handling, along with its assets in the U.S. grain belt, will be able to serve the New Mexico market competitively,” said Daren Kennett, senior vice-president and founder of Hi-Pro Feeds.
Dean Prevost, Hi-Pro chief executive officer stated that Hi-Pro will continue operation of its feed mills in South Dexter (6967 Old Dexter Hwy, Dexter, N.M.); Clovis, New Mexico, U.S.; Cheyenne, Oklahoma, U.S.; Friona, Texas, U.S.; and Comanche, Texas, U.S.; and seven mills in Canada.
“We remain committed to our customers in the market surrounding Dexter, and those in the dairy business. We are invested in the market and will continue to focus on delivering value-added feed products through our South Dexter and Clovis facilities, as well as our mills in Oklahoma, Texas, and seven mills in Canada,” said Prevost.
Since Russia’s invasion of Ukraine in February, the world’s wheat supply has been thrown into question, with poorer nations facing scarcity and a potential food crisis, according to the United Nations.
Following are countries among the world’s least developed that are the most dependent on Russia and Ukraine for their annual wheat supply (2020), according to the UN Conference on Trade and Development. Nations in Africa import 44% of their wheat from Russia and Ukraine, according to the UN.
In marketing year 2022-23, the world is projected by the US Department of Agriculture (USDA) to produce 779.03 million tonnes of wheat and provide 204.89 million tonnes for export.
These are the eight major wheat importing nations/regions as listed in the monthly USDA World Agricultural Supply and Demand Estimates (WASDE) report and their annual tonnes with production.
Russia’s invasion of Ukraine in February and the persistent La Niña climate phenomenon have combined to create some of the most volatile market conditions in recent memory, sending prices skyrocketing as nations that depend on wheat to feed their populations scramble to secure supplies.
Each month, the WASDE releases new projections to reflect the most recent global market and production conditions, and this slideshow will be updated with those changes.