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    Agricore-United

    Who oversees the business dealings of Agricore?

    Who do they answer to?

    Our canola, like many others in NE Alberta, got snowed under in October, but we were fortunate enought to get it off the fields by November 17.

    The beginning of February, we took a sample in to Agricore to see if they would buy it. It came back at 13% moisture, and high green count. (9%in one sample) As we no longer have a rail line, thus no elevators up here, we did not have the ability to dry it, and although the price was at an all time low for canola, we told them to sell it right away. Although one bin was #1, approximately 3 thousand bushels were #3, and we were offered #2 straight across (we would be billed 14 cents/bushel for drying) We arranged our trucker, from Pierceland to come in the week of the 12 to move it to Vermillion. That week Agricore called and told it wouldn't go out until the next week.

    Just about that time, CN refused to move any rail cars due to a possible strike. On the 18 we contacted Agricore, again, and informed them that one bin was starting to heat. (remember how warm the weather got in February?)
    We were told to move it around until it quit heating!

    On the 22 we took a sample of the heated canola in for testing. The 24 we were told one sample was 13% and the other was 70% heat damaged. The secretary at Agricore also said that Vermillion had informed her that our canola would not be going out the following week either!

    At this point we still had one 2000 bushel bin that had not heated. We got on the phone, started calling all over, and by that afternoon, we had found an alternate market for our canola.

    Yesterday, we received a statement from Agricore United, saying we owe them over 4 thousand dollars, for a contract buy out! We never signed anything, even though we were into Agricore numerous time with samples, etc. It was our understanding it would get shipped out the week of the 12!!

    Agricore cost us a lot of money, because they could not take it when they had said, and now we are being fined! What gives???

    I think I have a legal case here for harassment!!

    #2
    Archer Daniels Midland is overseeing the business Dealings of Agricore. The multinational has it's own interests at heart.

    I don't know if you have a harassment case, but it might be a good idea to let the better business bureau know about it. Maybe if each farmer that has a similar or even different hassle like this with the grain companies made a complaint that was noticed in government they might learn some accountability to those who aren't major shareholders.

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      #3
      DO you actually think that ADM is overseeing the day-to-day activities of Agricore with 23.8% of the common shares and 2 seats at the boardroom table?

      Jack Layton could be the next Prime Minister with the same rationale.

      Comment


        #4
        There is two issues there. Does ADM oversee the day to day activities of Agricore United, and the percentage of interest that ADM controls. 25% is a healthy chunk of control in any endeavour, even in politics, but when the remainder of the control is shared by a large number of people each with insignificant amounts, the ability of the large shareholder to say it's my ball and I can go home means that ADMs control outreaches it's share.

        Yes ADM now controls Agricore United.

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