Agribusiness giant Archer Daniels Midland has said that it is to close another soybean crushing facility due to poor crushing margins.
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ADM said the latest closure, of the North Kansas City soybean crushing facility, is scheduled to take effect 21 July and the plant will be closed indefinitely, reported Dow Jones News Service.
ADM’s third-quarter earnings, which fell just short of estimates, were hit by weak soybean crushing margins. The company is scheduled to report fourth-quarter earnings 24 July.
