Sanchez was elected as a new director, and 11 incumbents were re-elected.

Losses in grain trading and distribution along with depressed crushing in China hurt results.

Loud will lead a consolidated sales force in the U.S. and Canada covering ingredients across the Foods & Wellness portfolio.

The transaction is expected to close in June.

Net income was $267 million or 40¢ per share, down from $269 million and 41¢ per share in the same period a year ago.

Company says offer "materially undervalues" the business and is "opportunistic."

The grants include money to create and implement a development plan for the Midwest Inland Port.

Campaign has raised more than $1.6 million and 2.1 million pounds of food since 2011.

Company also announces plans to sell fertilizer business, pursue sale of chocolate business.

River Country Cooperative is a full-service supplier of fuel, fertilizer, grain and feed products.