ST. PAUL, MINNESOTA, US — CHS, Inc., the largest farmer-owned cooperative in the United States, has reached an agreement with Brazilian rail operator Rumo to build a terminal at the Port of Santos, Brazil, as part of a new 50-50 joint venture.

The terminal, which is expected to take about 30 months to build, is projected to handle 9 million tonnes of grains and 3.5 million tonnes of fertilizers annually. Construction is subject to the fulfillment of certain conditions, including licensing, legal and regulatory approvals. Financial terms of the agreement announced Aug. 8 were not disclosed.

“Brazil is a growing producer and shipper of crops that CHS global customers rely on, and this project creates long-term value for our US-based owners by strengthening the position of CHS as a competitive supplier of grains and oilseeds for customers around the world,” said John Griffith, executive vice president, CHS ag business and CHS Hedging.

The Port of Santos, located on the São Paulo coastland, is the largest in Latin America, connecting more than 600 ports in 125 countries. It is also one of the most important foreign trade routes in Brazil with almost 27% of the country’s trade balance passing through, according to Santos Port Authority. Brazil is the world’s top soybean exporter and second-largest corn exporter.

Providing crop inputs, market access and risk management services, CHS serves customers in 65 countries and employs nearly 10,000 people worldwide. CHS reported consolidated revenues of $45.6 billion and net income of $1.9 billion in fiscal year 2023.

CHS has 230 grain storage facilities and total licensed grain storage capacity of 403 million bushels, according to Sosland Publishing Co.’s 2024 Grain & Milling Annual, making it the second-largest grain handling company in North America behind only ADM.