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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
        D.C. 20549 </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <hr style="COLOR: #000000" align="left" noshade size="1" width="100%">
        </div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
        to Section 13 or 15(d) of the Securities Exchange Act of
        1934</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report (Date of earliest event reported): </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
        25, 2005</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <hr style="COLOR: #000000" align="left" noshade size="1" width="100%">
        &#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>HUSKER
        AG, LLC</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of registrant as specified in its charter) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <hr style="COLOR: #000000" align="left" noshade size="1" width="100%">
        &#160;<br></div>
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="33%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Nebraska</u></font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>000-49773</u></font></div>
              </td>
              <td valign="top" width="33%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>47-0836953</u></font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="33%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                  or other jurisdiction of incorporation)</font></div>
              </td>
              <td valign="top" width="34%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                  File Number)</font></div>
              </td>
              <td valign="top" width="33%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                  Employer Identification No.)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="50%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">54048
                  Highway 20</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Plainview,
                  Nebraska</u></font></div>
              </td>
              <td valign="top" width="50%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>68769</u></font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="50%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                  of principal executive offices)</font></div>
              </td>
              <td valign="top" width="50%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                  Code)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>(402)
        582-4446</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant's
        telephone number, including area code)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="center">
        <table bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></font></div>
              </td>
              <td width="95%"><font size="2">Written communications pursuant to
                Rule 425
                under the Securities Act (17 CFR 230.425) </font></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="95%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></font></div>
              </td>
              <td width="95%"><font size="2">Soliciting material pursuant to Rule
                14a-12
                under the Exchange Act (17 CFR 240.14a-12) </font></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="95%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></font></div>
              </td>
              <td width="95%"><font size="2">Pre-commencement communications pursuant
                to
                Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">&#160;</td>
              <td width="95%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></font></div>
              </td>
              <td width="95%"><font size="2">Pre-commencement communications pursuant
                to
                Rule 13e-4(c) under the Exchange Act (17 CFR
                240.13e-4(c))</font></td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
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        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        5.03. Amendments to Articles of Organization or Operating Agreement; Change
        in
        Fiscal Year.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>General</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        On
        August 23, 2005, the Husker Ag, LLC Board of Directors approved Amendment
        No. 11
        to the Company&#8217;s Second Amended and Restated Operating Agreement (the &#8220;Operating
        Agreement&#8221;), which becomes effective on August 31, 2005. This amendment revises
        several sections of the Operating Agreement. The revisions are summarized
        below.
        Attached hereto as Exhibit 3.2 and incorporated herein by this reference
        is a
        copy of Amendment No. 11.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Limitation
        on number of membership units that may be transferred</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Section
        4.3(a) and Section 10.4(c) were added to the Operating Agreement to restrict
        the
        number of Husker Ag membership units ("Units") that may be transferred to
        any
        one transferee to no fewer than five (5) Units - unless the transfer represents
        all of the transferring Member&#8217;s Units. Section 4.3(a) applies to voluntary
        transfers other than upon the death of a Member, while Section 10.4(c) applies
        to transfers of Units upon the death of a Member. In both cases, the new
        rule is
        as follows: No Member (or estate of a deceased Member) may transfer fewer
        than
        five (5) Units to any transferee (except in the case where all Units owned
        by a
        Member are transferred to a single transferee). The amendment provides an
        additional rule that no Member shall transfer any Units that would result
        in the
        transferor owning fewer than five (5) Units after the transfer. In both cases,
        the affected Member (or estate) has the option of requesting that the Company
        purchase the affected Units pursuant to the existing Section 10.7 of the
        Operating Agreement related to redemption of Units. Under Section 10.7, the
        Company is not required to purchase any Units offered to it under the redemption
        provisions of the Operating Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        a
        result of this amendment, after August 31, 2005, the Company's Board of
        Directors will not approve transfers of Units in violation of these new rules.
        Prior to this Amendment, there was no such limitation in the Operating
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Reference
        to trading system transfers</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Section
        10.9(b) was revised to reflect the changes in the Husker Ag Trading System
        Rules
        and Procedures explained in the second event listed under Item No. 8.01
        below.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Miscellaneous</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Other
        minor changes were made throughout Article 10 of the Operating Agreement
        to
        account for the changes referenced above and to change some of the terminology
        related to the redemption provisions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attached
        hereto as Exhibit 99.1 and incorporated herein by this reference is a letter
        from the Company to each of its members announcing this Amendment No. 11
        to the
        Operating Agreement. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        8.01. Other Events.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Husker
        Ag Announces Distribution</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company&#8217;s Board of Directors has declared a distribution of $150.00 per
        membership unit to members of record as of September 1, 2005 for a total
        distribution of $2,297,700 based on 15,318 membership units issued and
        outstanding. The Company intends to pay the distribution on or before September
        16, 2005. On August 25, 2005, the Company&#8217;s primary lender, Union Bank &amp;
        Trust Company, approved this distribution in accordance with the requirements
        set forth in the Company&#8217;s loan documents with the bank.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attached
        hereto as Exhibit 99.1 and incorporated herein by this reference is a letter
        from the Company to each of its members announcing the distribution.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Amendment
        to the Husker Ag Trading System Rules and Procedures</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>General</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        On
        August 23, 2005, the Husker Ag, LLC Board of Directors revised the Husker
        Ag
        Trading System Rules and Procedures (the "Rules"). The only significant changes
        made by the revised rules relate to both the payment date and the effective
        date
        of transfer for any agreements reached between a buyer and seller using the
        Company&#8217;s trading system. These rule changes are effective August 31, 2005, and
        will apply for the trimester period beginning September 1, 2005.</font></div>
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        Under
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        period,
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        1</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>st</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
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        subject
        to change by the Board of Directors. The effective date for the other two
        trimester periods will remain the same.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        of purchase price</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Under
        the old Rules, a buyer could not pay the purchase price to the seller before
        thirty days before a specified date that was generally between fifteen and
        thirty days prior to the effective date of the transfer. Under the revised
        Rules, the first day that a buyer can make payment to a seller has been moved
        up
        for the trimester periods beginning December 1</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>st</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        and
        April 1</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>st</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        first date that a buyer may now pay the seller during the three trimesters
        will
        be February 15</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        June
        15</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        and
        November 15</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        as the
        case may be.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Miscellaneous</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        The
        Company has made other minor changes that do not affect the way the trading
        system will be operated. The Company has also added a provision in Section
        V(B)(2) that makes it clear that Husker Ag may post on its website the quantity
        and price information for each of the trades completed during the trimester.
        This posting will not identify the names of the sellers or buyers.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attached
        hereto as Exhibit 99.2 and incorporated herein by this reference is a copy
        of
        the revised Husker Ag Trading System Rules and Procedures.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        9.01. FINANCIAL STATEMENTS AND EXHIBITS </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="center">
        <table bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td width="15%"><font size="2">Exhibit 3.2</font></td>
              <td width="85%"><font size="2">Amendment No. 11 to the Second Amended
                and
                Restated Operating Agreement.</font></td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="15%">&#160;</td>
              <td width="85%">&#160;</td>
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              <td width="85%"><font size="2">Letter from the Company to each of
                its
                members.</font></td>
            </tr>
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              <td width="15%">&#160;</td>
              <td width="85%">&#160;</td>
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              <td width="85%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Husker
                Ag Trading System Rules and Procedures, as amended as of August 31,
                2005.</font></td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
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              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>HUSKER
                AG, LLC</strong></font></td>
            </tr>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
                August 30, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Fredrick
                J. Knievel</font></td>
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              <td align="left">
                <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font size="2">Fredrick
                J. Knievel, Chairman of the
                Board</font></td>
            </tr>

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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
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{"company-data": {"conformed-name": "HUSKER AG  LLC", "cik": "0001133555", "assigned-sic": "2860", "irs-number": "470836953", "state-of-incorporation": "NE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49773", "film-number": "051058561"}, "business-address": {"street1": "510 W LOCUST", "street2": "P O BOX 10", "city": "PLAINVIEW", "state": "NE", "zip": "68769", "phone": "402582446"}, "mail-address": {"street1": "510 W LOCUST", "street2": "P O BOX 10", "city": "PLAINVIEW", "state": "NE", "zip": "68769"}, "former-company": {"former-conformed-name": "HUSKER AG PROCESSING LLC", "date-changed": "20010201"}}
Unassociated Document
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT
Pursuant
        to Section 13 or 15(d) of the Securities Exchange Act of
        1934
Date
        of
        Report (Date of earliest event reported):
August
        25, 2005
HUSKER
        AG, LLC
(Exact
        name of registrant as specified in its charter)
Nebraska
000-49773
47-0836953
(State
                  or other jurisdiction of incorporation)
(Commission
                  File Number)
(IRS
                  Employer Identification No.)
54048
                  Highway 20
Plainview,
                  Nebraska
68769
(Address
                  of principal executive offices)
(Zip
                  Code)
(402)
        582-4446
(Registrant's
        telephone number, including area code)
Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:
o
Written communications pursuant to
                Rule 425
                under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule
                14a-12
                under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant
                to
                Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
                to
                Rule 13e-4(c) under the Exchange Act (17 CFR
                240.13e-4(c))
Item
        5.03. Amendments to Articles of Organization or Operating Agreement; Change
        in
        Fiscal Year.
General
.
        On
        August 23, 2005, the Husker Ag, LLC Board of Directors approved Amendment
        No. 11
        to the Company's Second Amended and Restated Operating Agreement (the "Operating
        Agreement"), which becomes effective on August 31, 2005. This amendment revises
        several sections of the Operating Agreement. The revisions are summarized
        below.
        Attached hereto as Exhibit 3.2 and incorporated herein by this reference
        is a
        copy of Amendment No. 11.
Limitation
        on number of membership units that may be transferred
.
        Section
        4.3(a) and Section 10.4(c) were added to the Operating Agreement to restrict
        the
        number of Husker Ag membership units ("Units") that may be transferred to
        any
        one transferee to no fewer than five (5) Units - unless the transfer represents
        all of the transferring Member's Units. Section 4.3(a) applies to voluntary
        transfers other than upon the death of a Member, while Section 10.4(c) applies
        to transfers of Units upon the death of a Member. In both cases, the new
        rule is
        as follows: No Member (or estate of a deceased Member) may transfer fewer
        than
        five (5) Units to any transferee (except in the case where all Units owned
        by a
        Member are transferred to a single transferee). The amendment provides an
        additional rule that no Member shall transfer any Units that would result
        in the
        transferor owning fewer than five (5) Units after the transfer. In both cases,
        the affected Member (or estate) has the option of requesting that the Company
        purchase the affected Units pursuant to the existing Section 10.7 of the
        Operating Agreement related to redemption of Units. Under Section 10.7, the
        Company is not required to purchase any Units offered to it under the redemption
        provisions of the Operating Agreement.
As
        a
        result of this amendment, after August 31, 2005, the Company's Board of
        Directors will not approve transfers of Units in violation of these new rules.
        Prior to this Amendment, there was no such limitation in the Operating
        Agreement.
Reference
        to trading system transfers
.
        Section
        10.9(b) was revised to reflect the changes in the Husker Ag Trading System
        Rules
        and Procedures explained in the second event listed under Item No. 8.01
        below.
Miscellaneous
.
        Other
        minor changes were made throughout Article 10 of the Operating Agreement
        to
        account for the changes referenced above and to change some of the terminology
        related to the redemption provisions.
Attached
        hereto as Exhibit 99.1 and incorporated herein by this reference is a letter
        from the Company to each of its members announcing this Amendment No. 11
        to the
        Operating Agreement.
Item
        8.01. Other Events.
Husker
        Ag Announces Distribution
.
The
        Company's Board of Directors has declared a distribution of $150.00 per
        membership unit to members of record as of September 1, 2005 for a total
        distribution of $2,297,700 based on 15,318 membership units issued and
        outstanding. The Company intends to pay the distribution on or before September
        16, 2005. On August 25, 2005, the Company's primary lender, Union Bank &
        Trust Company, approved this distribution in accordance with the requirements
        set forth in the Company's loan documents with the bank.
2
Attached
        hereto as Exhibit 99.1 and incorporated herein by this reference is a letter
        from the Company to each of its members announcing the distribution.
Amendment
        to the Husker Ag Trading System Rules and Procedures
.
General
.
        On
        August 23, 2005, the Husker Ag, LLC Board of Directors revised the Husker
        Ag
        Trading System Rules and Procedures (the "Rules"). The only significant changes
        made by the revised rules relate to both the payment date and the effective
        date
        of transfer for any agreements reached between a buyer and seller using the
        Company's trading system. These rule changes are effective August 31, 2005, and
        will apply for the trimester period beginning September 1, 2005.
Effective
        date of transfer
.
        Under
        the old Rules, transfers were effective on the last day of the trimester
        period,
        unless changed by the Board of Directors. Under the revised Rules, the effective
        date for transfers occurring during the trimester period beginning on April
        1
st
will be
        July 31
st
,
        subject
        to change by the Board of Directors. The effective date for the other two
        trimester periods will remain the same.
Payment
        of purchase price
.
        Under
        the old Rules, a buyer could not pay the purchase price to the seller before
        thirty days before a specified date that was generally between fifteen and
        thirty days prior to the effective date of the transfer. Under the revised
        Rules, the first day that a buyer can make payment to a seller has been moved
        up
        for the trimester periods beginning December 1
st
and
        April 1
st
.
        The
        first date that a buyer may now pay the seller during the three trimesters
        will
        be February 15
th
,
        June
        15
th
and
        November 15
th
,
        as the
        case may be.
Miscellaneous
.
        The
        Company has made other minor changes that do not affect the way the trading
        system will be operated. The Company has also added a provision in Section
        V(B)(2) that makes it clear that Husker Ag may post on its website the quantity
        and price information for each of the trades completed during the trimester.
        This posting will not identify the names of the sellers or buyers.
Attached
        hereto as Exhibit 99.2 and incorporated herein by this reference is a copy
        of
        the revised Husker Ag Trading System Rules and Procedures.
ITEM
        9.01. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 3.2
Amendment No. 11 to the Second Amended
                and
                Restated Operating Agreement.
Exhibit 99.1
Letter from the Company to each of
                its
                members.
Exhibit 99.2
Husker
                Ag Trading System Rules and Procedures, as amended as of August 31,
                2005.
3
SIGNATURE
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.
HUSKER
                AG, LLC
Date:
                August 30, 2005
By:
/s/ Fredrick
                J. Knievel
Fredrick
                J. Knievel, Chairman of the
                Board
4