| April 10
April 10 Cargill Inc will close its
soybean processing plant for deliveries of the beans next week
in Bloomington, Illinois, because of a shortage of rail cars, a
message on the company's website said on Thursday.
Gridlock on the country's railroads amid a bitter winter and
increased demand for railcars to ship oil, coal, ethanol and
grains had already hit quarterly earnings for the
The processor will be closed for deliveries of soybeans
beginning on Monday, the website said.
Cargill is having difficulties getting railcars to ship
product, according to a company email seen by Reuters.
The plant will continue to operate, except for the Good
Friday holiday on April 18, spokesman Mark Klein said.
"We have sufficient supply of beans in bins," he said.
There is storage for as much as 2 million bushels of
soybeans at the central Illinois facility that can process
60,000 bushels per day, cash sources said. Klein declined to
comment on the capacity.
Many U.S. processors were earning strong "crush" margins
processing soybeans into products such as soymeal and soyoil.
The average margin was said to be about 60 cents per bushel - 10
cents above the level needed to break even, a cash source said.
(Reporting by Michael Hirtzer in Chicago; Editing by David