#1 | One Up & One Down
Of nineteen new US soybean crush plant projects announced the past few years, only one is in operation to date.
Most of the expansions will not come online until the 2024/25 marketing year and one has officially been tabled indefinitely.
Earlier today, Bloomberg reported that Cargill has put plans for a new, 60-million-bushel-per-year crush plant in the Bootheel of Missouri “on pause due to many shifting market dynamics.”
Aside from escalating costs of construction and industry crush margins on the retreat in recent months, Cargill’s decision was influenced by their purchase of Owensboro Grain Company in January - a soybean processor along the Ohio River, located only a couple hundred miles from the proposed new Cargill plant in Southeast Missouri.
#2 | The Two Big Ones
The US and Brazil, combined, will account for nearly 90% of world soybean exports this marketing year.
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