Japanese trading house Mitsui & Co. (8031.TO) said Friday it will dissolve its U.S. grain storage and export joint venture United Harvest LLC at the end of March 2011.

The 50-50 owned joint venture was launched by Mitsui's wholly owned unit United Grain Corp. and U.S. CHS Inc. in 1998. United Grain and CHS will take over United Harvest's activities, Mitsui said.

Mitsui, which considers grain a key business segment amid ancipated higher demand from rapidly growing emerging economies, said its United Grain unit has decided to invest an additional $72 million in an export terminal in Vancouver.

-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com
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