While continuing to serve local farmers and elevator customers, Cargill plans to idle its Raleigh, N.C., soybean-processing facility due to an expected decline in demand for U.S. soybean processing.
"In recent years, demand for U.S. soybean processing has become more variable and seasonally driven," says Mark Stonacek, president of Cargill Grain and Oilseed Supply Chain North America. He says the drop in demand is a result of the expected large South American soybean crop.
While Cargill idles its crush facility, it will continue to buy local beans by keeping the elevator open and maintaining a regional office.
- March 2014