HIGHBuilt-inCommodity
corn
“10-K Item 1A: 'The principal raw material used to produce ethanol and co-products is corn.'”
ANDE · Concentration risk · 10-K extracted
The Andersons (ANDE) concentration risks
Updated
The most significant concentration The Andersons discloses is corn, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: The Andersons’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partySupplier
limited number of suppliers for raw materials
“10-K Item 1A: 'We rely on a limited number of suppliers for certain of our raw materials and other products and the loss of one or several of these suppliers could increase our costs'”
MEDIUMBuilt-inGeographic
Eastern Grain Belt
“10-K Item 1A: 'a significant portion of the Company's assets are still exposed to conditions in the Eastern Grain Belt'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile spans commodity, supply, and geography, with the commodity exposure forming the structural foundation. Corn is identified as the principal raw material used to produce ethanol and co-products, a high-share structural exposure by disclosed size that reflects the design of the company's ethanol business rather than an idiosyncratic sourcing choice. Because corn is a commodity, the exposure is correlated with crop cycles, weather events affecting grain yields, and the basis differentials between the company's Eastern Grain Belt operations and broader corn futures markets. The geographic dimension reinforces the commodity dependency: a significant portion of the company's assets are exposed to conditions in the Eastern Grain Belt, a moderate-share structural exposure that reflects the physical location of origination and processing assets in a specific agricultural region. Regional weather events, infrastructure disruptions, or persistent drought conditions in the Eastern Grain Belt would affect both corn availability and corn-origination volumes simultaneously, compounding the commodity dependency through a geography channel. On the supply side, the company relies on a limited number of suppliers for certain raw materials and other products, a moderate-share dependency in character where the loss of one or several suppliers could increase costs. This adds idiosyncratic supplier risk to the structural commodity and geographic exposures above. Together, the three claims describe a profile dominated by agricultural commodity dynamics, with geographic concentration in the region that supplies the most critical input and a moderate supplier dependency that could amplify cost effects if supply disruptions occur simultaneously with corn price spikes.
For the engine’s reasoning on ANDE’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Food Distribution
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ANDE● | The Andersons, Inc. | 1 | 2 | 0 | 3 |
| SYY | Sysco Corporation | 1 | 0 | 0 | 1 |
| USFD | US Foods Holding Corp. | 0 | 1 | 1 | 2 |
| PFGC | Performance Food Group Company | 0 | 1 | 0 | 1 |
| UNFI | United Natural Foods, Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.