Burlington Santa Fe Railroad has a new owner, after Warren Buffet's Berkshire Hathaway agreed to buy the rail line for $34 billion.

Berkshire Hathaway already owned a 22%t stake in Burlington Northern, and agreed to pay $100 a share for the rest of the company.

Both companies' boards have approved the deal, but the railroad buyout came as a surprise to the Montana Grain Growers Association.

"Our initial thoughts are...we've worked long and hard to develop the relationship that we have right now with Burlington Northern Santa Fe Railroad. We anticipated that this merger, this buyout, isn't going to change that relationship at all," said Bing Von Bergen, MGGA President. "If any of our producers have any problems with Burlington Northern, we're in communications with them all the time and we can alleviate their concerns."

Burlington Northern is the second-largest railroad in the country. The rail line is the biggest carrier for food products and coal , plus everyday items like clothing and televisions.