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ADM’s Response to the Washington Post Article

The following is ADM’s response to the Washington Post article on June 29, 2021:

The suggestion that we sold the Estill elevator to Mr. Perdue to curry favor with a future Agriculture Secretary is totally false, and contradicted by the facts. We pursed a sale of the Estill elevator because the facility was significantly underperforming, and we were consistently losing money on the operations. We began negotiations with Agrowstar, Mr. Perdue’s company, in 2015, long before he was being considered for the Agriculture Secretary position. We engaged with other parties throughout the process to find competing buyers, but Agrowstar ultimately was the only interested party in the distressed asset. We did not receive any special favors from Mr. Perdue during his administration, and it is unfair and inaccurate to imply that we did.