Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
ANDERSON MICHAEL J
  2. Issuer Name and Ticker or Trading Symbol
ANDERSONS INC [ANDE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
480 W DUSSEL DR
3. Date of Earliest Transaction (Month/Day/Year)
06/28/2006
(Street)

MAUMEE, OH 43537
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK 06/28/2006   J(1)   105,660.763 A $ 0 (1) 211,321.526 D  
COMMON STOCK 06/28/2006   J(1)   51,546 A $ 0 (1) 103,092 I Mrs. Carol H. Anderson-spouse
COMMON STOCK 06/28/2006   J(1)   7,282 A $ 0 (1) 14,564 I Colin J. Anderson, UGMA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
PERFORMANCE SHARE UNIT $ 0 (2) 06/28/2006   J(3)   5,040   12/31/2007 01/01/2008 COMMON STOCK 0 (2) $ 0 10,080 D  
PERFORMANCE SHARE UNIT $ 0 (4) 06/28/2006   J(3)   3,710   12/31/2008 01/01/2009 COMMON STOCK 0 (4) $ 0 7,420 D  
SOSAR $ 39.115 (5) 06/28/2006   J(5)   22,000   04/01/2009 04/01/2011 COMMON STOCK 22,000 $ 0 44,000 D  
STOCK OPTION $ 4.4375 (5) 06/28/2006   J(5)   5,071   01/01/1998 01/01/2008 COMMON STOCK 5,071 $ 0 10,142 D  
STOCK OPTION $ 5 (5) 06/28/2006   J(5)   10,000   01/01/2002 01/01/2012 COMMON STOCK 10,000 $ 0 20,000 D  
STOCK OPTION $ 6.35 (5) 06/28/2006   J(5)   35,000   01/01/2003 01/01/2008 COMMON STOCK 35,000 $ 0 70,000 D  
STOCK OPTION $ 7.9835 (5) 06/28/2006   J(5)   33,500   01/01/2004 01/01/2009 COMMON STOCK 33,500 $ 0 67,000 D  
STOCK OPTION $ 15.5 (5) 06/28/2006   J(5)   30,000   04/01/2005 03/31/2010 COMMON STOCK 30,000 $ 0 60,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ANDERSON MICHAEL J
480 W DUSSEL DR
MAUMEE, OH 43537
  X     President and CEO  

Signatures

 Michael J. Anderson, by: Gary Smith, Limited Power of Attorney   06/30/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents shares received following a 2-for-1 stock split on June 28, 2006
(2) Stock Performance Unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS from 1/1/2005 to 12/31/2007. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.
(3) As result of 2-for-1 stock split on June 28,2006, PSUs have increased as noted.
(4) Stock Performance Unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS from 1/1/2006 to 12/31/2008. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.
(5) As a result of a 2-for-1 stock split on June 28, 2006, the option shares have increased as noted and the exercise price has been adjusted to one-half of the previously reported exercise price.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.