ADM closes soy processing plant in Illinois

Archer Daniels Midland Co. has closed its soybean processing plant in Galesburg, Ill., due to low profits and slow demand, according to the company.
"Several factors — including the growing soybean export market, the increasing cost of beans and a decrease in domestic demand for soybean meal — put severe pressure on the profitability of the Galesburg plant and drove the decision to close the facility," said Roman Blahoski, ADM spokesman.
The plant has been idle since April. Some of the 31 plant workers will have the opportunity to transfer to other facilities, while processing operations will be absorbed into surrounding plants in Illinois, Iowa and Minnesota.