ADM Sold Grain Plant to Perdue for Fraction of Estimated Value

ADM sold a grain storage plant worth millions of dollars for $250,000 to Sonny Perdue weeks after then-President Donald Trump tapped him to lead the U.S. Department of Agriculture, the Washington Post reported Tuesday.

ADM had paid more than $5.5 million for the South Carolina property six years earlier, the Post said.

ADM spokesperson Jackie Anderson told the Post the company did not sell the plant at a discount. ADM began negotiations with Perdue's former company, AGrowStar, in 2015 before Trump was elected, she said.