Farmland Industries' wheat sets sail to Cuba - 1/8/02

30,000 metric tons of Farmland member-grown wheat from Texas, Oklahoma and Kansas is part of the first trade deal between Cuba and the U.S. in 40 years. KANSAS CITY, Mo. (Jan. 8, 2002)–A bulk carrier is scheduled to leave the Port of Galveston today bound for Havana, Cuba, with 30,000 metric tons of U.S. wheat. This is the first of what Midwest farmers hope are many grain shipments to the estranged island nation that has been under a U.S. trade embargo since 1963. “This is a great day for the U.S. farmer,” said Bob Honse, Farmland president and CEO.   “American agriculture needs new markets and enhanced trade. The American farmer and the cooperative system can play a leading role in feeding the world. I hope this is the first of many sales of Farmland-member grain to Cuba.” ADM/Farmland, a grain merchandising business formed in 2001 by Archer Daniels Midland Co. and Farmland, negotiated the Cuban grain sale under a year-old U.S. law that permits food and medicine sales to the island. The agreement for the wheat sale was the first contract signed when ADM/Farmland and Cuba finalized the commodity sale in November. The M.V. H. Ismael Kaptanoglu left the Port of Galveston laden with more than 1.1 million bushels of Hard Red Winter Wheat No. 2 grown by Farmland-member producers in Texas, Oklahoma and Kansas. The ship is expected to arrive in Havana by January 12. “The Cuban sale shows the benefit that ADM/Farmland provides our member-owners,” said Joe Royster, Farmland Board Member and a member of the ADM/Farmland Advisory Board. “In addition to the Cuba sale, ADM/Farmland has opened up markets in the Pacific Northwest for our grain producers and has given us markets and scale of execution that Farmland could not have achieved operating independently.” "I am proud that the first commercial shipment of American wheat to Cuba in 40 years is going out of the Port of Galveston," said Rep. Nick Lampson (D-Texas), on hand to see the ship leave Galveston from pier 30-32.   “This shows the potential economic benefits that trade with Cuba can provide both to our U.S. farmers and to our U.S. ports.” Farmland is committed to increasing trade and agricultural exports. Domestically, trade accounts for 25 percent of gross farm income and more than 800,000 agricultural jobs depend on trade. Many agricultural leaders echoed Farmland’s hope that more grain sales to Cuba lie ahead. This is the first in what I hope will be many shipments of Texas commodities to Cuba," Texas Agriculture Commissioner Susan Combs said. "Texas producers and Texas agriculture will be the beneficiaries as we continue to open and expand additional global markets." “I’m glad that Kansas wheat growers can help open the door to trade with Cuba,” said Jamie Clover Adams, Kansas Secretary of Agriculture. “The success of Kansas agriculture depends on finding new markets and expanding existing ones, so my hope is this shipment is one of many to come.” Farmland Industries, Inc., Kansas City, Mo., (http://www.farmland.com/) is a diversified farmer-owned cooperative focused on meeting the needs of its local cooperative- and farmer-owners. Farmland and its joint venture partners supply local cooperatives with agricultural inputs such as crop nutrients, crop protection products, and animal feeds. As part of its farm-to-table mission, Farmland adds value to its farmer-owners’ grain and livestock by processing and marketing high-quality grain, pork, beef and catfish products throughout the United States and in more than 60 countries. For more information: Sherlyn Manson, Corporate Communications 816-713-6230

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