CHS Inc. on Monday unveiled a grain marketing joint venture with Ruralco Holdings of Australia.

Inver Grove Heights-based CHS, the largest farmers' cooperative in the U.S., and Ruralco will each own 50 percent of Agfarm, an Australian-based grain origination and marketing company.

"CHS is committed to the long term in the Australian market," said Rick Browne, CHS ag business senior vice president, said in a news release. Ruralco is a leading Australian agribusiness operating in several areas including seed and fertilizer.

This is the second joint venture CHS has entered in the Asia-Pacific region in a little over a year.

In May 2012, CHS formed a grain marketing partnership with Zen-Noh, a Japanese grain company. That 51 percent CHS-owned venture supplies grain to Japan, primarily wheat and barley grown in Australia and North America.

Mike Hughlett