Article

2023-09-14 Economy

Largest wet corn processing plant in the US explodes just before harvest season

[SlayNews] A major food processing plant in Illinois has been shut down after a massive explosion ripped through the facility.

At least eight people have been reported injured at the processing plant in Decatur.

As of early Tuesday morning, five of the injured people remain hospitalized.

The explosion and resulting fire occurred at an Archer-Daniels-Midland (ADM) processing complex.

The sudden explosion was reported just after 7 p.m. Central time on Monday.

“ADM immediately contacted the Decatur Fire Department, which remains on the scene,” an ADM spokesperson said in a statement.

“Several employees were injured and transported to the local hospital for treatment.

“Our thoughts are with our colleagues.

“We do not have a confirmed cause at this time.”

The incident impacted the section of the plant where corn and soy are processed, according to ADM.

ADM said corn and soy processing is now down and it is unclear when the plant can resume operations.

“A plant that crushes soybeans into soybean oil and white flake for soy protein production was down on Monday, ADM said,” according to Reuters.

“An adjacent corn processing plant was also ‘temporarily down until we can safely resume operations,’ the company said.”

The explosion has severely damaged crop processing operations, the company and the local fire department said.

Several structures were severely damaged in the blast, including a 10-story building and adjacent buildings, the fire department said.

The prolonged outage at the massive processing facility in the heart of the U.S. Corn Belt is expected to put downward pressure on crop prices.

The incident has come just as Midwest farmers are preparing to harvest their corn and soybeans.

U.S. farmers are already battling falling crop prices, especially for corn, as export demand has slumped.

The Decatur site, ADM’s North American headquarters and its largest facility globally, houses soybean crushing facilities and one of the largest corn wet mills in the world.

It has the capacity to produce 375 million gallons of ethanol biofuel annually, making it the largest in the country, according to the Renewable Fuels Association.

“Coming into harvest, if it is down for a week or more, that would really cripple the cash basis,” said Mike Zuzolo, president of Global Commodity Analytics.

Posted by Griter Slash1619 2023-09-14 00:00|| || Front Page|| [18 views ] Top

#1 Wow! So far in the 3 years since this LSD Administration seize power.

We have had Chicken, Pork, and Cattle processing facilities mysteriously destroyed. Oil processing refineries explode, pipelines burst, and Electrical grid brownouts. Oil drilling banned, Demands to use "State Approved" items and bans or restrictions on others. Food Processing facilities burn down or close up. Gas Prices jumping 63.92% ($2.19 to $3.59) Food has disappeared off the shelves, only to reappeared in smaller sizes and we still had 19% to 41% price increases. Hell a 50 cent Snickers Bar is now smaller and has gone up over 100% in price to $1.38+.

So who can afford Halloween this year?

But looking back on this.
We all seen this many times in recent history.

It all mimics a typical Socialist Coup/Junta economic upheaval.

Posted by NN2N1 2023-09-14 07:36|| 2023-09-14 07:36|| Front Page Top

#2 I have not heard of any candy corn or circus peanut factories burning. Yet...

Posted by M. Murcek 2023-09-14 08:11|| 2023-09-14 08:11|| Front Page Top

#3 And what happens to the price of corn based Ethanol gasoline ?

Posted by Besoeker 2023-09-14 08:14|| 2023-09-14 08:14|| Front Page Top

#4 So let me get this right:
War in Ukraine limits grain shippments causing people to starve,
U.S. corn/soy bean processing is hampered by fire in plant;
U.S. farmers concerned that lower prices for corn means less $$$ for them. Lower prices usualy means lower demand. Can't believe Economics 101 is dead on arrival.

Posted by Sam Lindsey III 2023-09-14 08:34|| 2023-09-14 08:34|| Front Page Top

#5 The prolonged outage at the massive processing facility in the heart of the U.S. Corn Belt is expected to put downward pressure on crop prices.
and the foods and fuels prices will increase.

Wholesale inflation surges more than expected in August

Posted by Skidmark 2023-09-14 09:14|| 2023-09-14 09:14|| Front Page Top

#6 How much of this is a system wide results of the 'bean counters' cancelling preventive maintenance budgets as 'too expensive for the bottom line' because of inflation?

As a plant mechanic told me 'As far as the accountants are concerned any preventative maintenance is considered a pure loss(bad!), but fixing a totally shut down machine is an operating expense so its okay !?!" So run it until the magic blue smoke comes out is the plan.

Posted by magpie 2023-09-14 11:09|| 2023-09-14 11:09|| Front Page Top

#7 ^Don't you mean MBAs?

Posted by Grom the Reflective 2023-09-14 11:21|| 2023-09-14 11:21|| Front Page Top

#8 Ah, Biofuel as part of operations.

So have we forced out all the veteran workers who know how the plant works and when there are dangers in exchange for cheaper, more diverse new labor, the ones of whom received a US education complain to HR about male and female connectors?

Posted by swksvolFF 2023-09-14 12:29|| 2023-09-14 12:29|| Front Page Top

#9 @#6: The Plant Manager may have been on some type of internal incentive program, but all allowed expenses, including those for preventive maintenance, are tax deductible.

There are also capitalization rules. Here is an informative link.

Yeah, I'm an MBA. Would you like fries with that?

Posted by Clem Munster2497 2023-09-14 15:37|| 2023-09-14 15:37|| Front Page Top

#10 /\ You mean like.....Jewish Lightning ?

Posted by Besoeker 2023-09-14 15:44|| 2023-09-14 15:44|| Front Page Top

#11 ADM said corn and soy processing is now down and it is unclear when the plant can resume operations.

So corn prices are depressed because of a 'sudden' glut and cattle, already depressed, become the turn to protein provider with soy gone. Wonder if Bill Gates has started supplementing his herd feed with corn.

Posted by Skidmark 2023-09-14 16:46|| 2023-09-14 16:46|| Front Page Top

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