Cargill Inc. agreed to sell its crop insurance unit, the latest move by the giant U.S. agricultural commodity trader and producer to reshape its business amid low crop prices.

The insurance operation will be sold to Silveus Insurance Group, Minneapolis-based Cargill said Tuesday in a statement. Closely held Cargill didn’t disclose terms on the deal, which is expected to close in mid-January. It entered the insurance business in 2007.

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