ADM to idle Iowa soy facility during record US harvest [Yahoo! Finance]
Archer-Daniels-Midland Company (ADM)
Last archer-daniels-midland company earnings: 4/29 04:05 pm
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Source: Yahoo! Finance
The temporary closure eliminates a market for farmers to sell their soy as low crop prices slash incomes and removes a source of livestock feed for buyers in the U.S. and overseas. Expectations for the shutdown helped push cash soymeal prices at the Gulf export terminal to their highest level in a decade. ADM's facility in Des Moines will close for maintenance work from mid-October through November, the company said in response to a query by Reuters this week. "We forecasted for this project and have plans in place to ensure we can meet customer needs throughout this time frame." The facility in the No. 2 U.S. soybean state crushes about 5 million bushels of soybeans a month on average, brokers said. That figure would represent about 12% of Iowa's monthly soybean crush, according to U.S. government data. "It's an odd one," Don Roose, president of Iowa-based U.S. Commodities, said of the shutdown during harvest. "Some guys are afraid: what if it doesn't come back up?" ADM di
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ADM
Earnings
- 7/30/24 - Miss
ADM
Sec Filings
- 12/13/24 - Form 4
- 12/13/24 - Form 4
- 12/13/24 - Form 4
- ADM's page on the SEC website