ADM shutters South Carolina soybean processing plant in light of tariff challenges

In South Carolina, Reuters reports Archer Daniels Midland has decided to shut down the soybean processing plant in Kewshaw as it seeks to save up to $700 million over the next three years as well as offset potential challenges related to tariff-induced demand cuts from China. It is the first soybean plant to be shut down following years of increased production demand due to biodiesel. With the US biofuel industry holding back, also in the face of unstable tariff policy, the decision to shut down the plant seemed in line with expected demand shifts.