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ADM leases part of Brazilian soybean crushing facility

(Tuesday, Jan. 28, 2003 -- CropChoice news) -- Archer Daniels Midland has leased part of Braswey's soy crushing facility in the Parana state of Brazil. The plant, which ADM now has an option to buy, has the capacity to crush 1,700 tons of soybeans per day.

This comes on the heels of news that ADM would double the size of its large crushing plant in Mato Grosso state. Bunge, Cargill, Harvest States and Caramuru plan to expand operations in Brazil.

Brazil's soybean harvest is forecast at 47.6 million metric tons, a 14 percent increase over last season.

Source: Reuters