Cargill Inc. has announced it will idle its soybean processing plant in Raleigh, North Carolina this spring because of lowered demand for U.S. soymeal after bumper soy crops in South America. The elevator at the location will continue to buy soybeans from local farmers and commercial sellers. The record soybeans crops in Brazil and Argentina could make it more cost effective for livestock producers concentrated in the southeastern U.S. to import their soymeal rather than buy it domestically. Future idling in the region could occur, however the South American supplies are not expected to affect soy crushing operations in the U.S. Midwest.
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