US Soy Processors Pay Premiums Amid Harvest Delays
Persistent rains have delayed the US soybean harvest, forcing processors in the Midwest to offer hefty cash premiums for immediate deliveries. Some plants have scaled back production as old crop supplies dwindle.
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Soybeans processors in the western United States Midwest are offering cash premiums up to $1 a bushel for immediate deliveries as persistent rains delay the early harvest. The scramble for tight supplies has forced some crushing plants to scale back production. The cash market disruption follows a year of pressure from trade tensions with China and rising biofuel demand.
