Friday, August 14, 2009

Breaking News-RTRS-U.S. soy processors seen extending downtime

CHICAGO, Aug 13 (Reuters) - Some U.S. soy processors are expected to take additional seasonal maintenance downtime in the coming weeks due to a lack of old-crop soybean supplies and the high cost for what's left, soy dealers said on Thursday.
"The way the supply of beans is, they don't have a choice -- buy the beans you can crush between now and new-crop (harvest), and just shut it down," a soy dealer in Kansas City said. "They're sweeping the bottom of the bins out here."
At least six soy processors are taking downtime in August, in some cases shutting down for the entire month. Other processors scheduled seasonal maintenance last month.