January 30, 2014 / 7:27 PM / 4 years ago

Cargill says idling North Carolina soy processor this spring

Jan 30 (Reuters) - Cargill Inc will idle its soybean processing plant in Raleigh, North Carolina, this spring amid reduced demand for U.S. soymeal due to large soy harvests in South America, the company said on Thursday.

“In recent years, demand for U.S. soybean processing has become more variable and seasonally driven,” Mark Stonacek, president of Cargill’s North American grain and oilseed supply chain, said in a statement. “Cargill will continue to monitor the global situation and will consider restarting the plant if conditions change.”

The company still will operate an elevator at the Raleigh location, purchasing soybeans from farmers and other commercial sellers, it said.

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