ASSIGNMENT AND PLEDGE AGREEMENT Industry Track Agreement

Exhibit 10.3

ASSIGNMENT AND PLEDGE AGREEMENT

Industry Track Agreement

     Western Iowa Energy, LLC, an Iowa limited liability company (“Assignor”) for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, hereby grants, pledges, and assigns to Farm Credit Services of America, FLCA (“Assignee”), all of the Assignor’s right, title and interest in and to:

That certain Industry Track Agreement between Assignor and the Chicago Central and Pacific Railroad Company dated as of the 11^th day of April, 2006 pursuant to which Chicago Central and Pacific Railroad Company will provide railroad services to Western Iowa Energy, LLC pursuant to the terms contained in such Industry Track Agreement.

     It is the intention of Assignor that by this assignment Assignee shall acquire all of the rights and obligations previously enjoyed by the Assignor as owner under the Industry Track Agreement.

     Assignor agrees to execute such other documents as may reasonably be requested by Assignee, from time to time to evidence the above and foregoing assignment.

Dated: April June 15, 2006.		Western Iowa Energy, LLC
		By:		s/s Xxxx Xxxxx
		Its:		Chairman

By its execution hereof, Chicago Central and Pacific Railroad Company consents to and acknowledges the foregoing collateral assignment of the described agreement.

Dated: April June 15, 2006.		Chicago Central and Pacific Railroad Company
		By:		s/s Xxxxxxxx Xxxxx
		Its:		Vice-President-Treasurer

STATE OF IOWA			)
			)ss.
COUNTY OF SAC			)

On this 5^th day of June, 2006, before me, the undersigned, a Notary Public, personally appeared Xxxx Xxxxx, Chairman of Western Iowa Energy, LLC on behalf of said entity, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed.

Notarial Seal		XXXXXX XXXXXX		s/s Xxxxxx Xxxxxx
		Commission Number 736092		Xxxxxx Xxxxxx      Notary Public
Iowa		My Commission Expires		In and for said State
		8-15-08		My Commission Expires: 8-15-08

STATE OF					)
					)ss.
COUNTY OF					)

On this ___day of ___, 2006, before me, the undersigned, a Notary Public, personally appeared                     ,                      of Chicago Central and Pacific Railroad Company on behalf of said entity, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed.

                                                            
                                        Notary Public
In and for said State
My commission expires: