CHS to shut two soy processing facilities in US

The largest farmer co-operative in the United States is to shut two crushers and a research facility to restore “financial flexibility”, the company said in a statement on Monday.

CHS Inc, which reported a pre-tax loss of $55m in the 2017 financial year, will shut its soybean processing facilities at Hutchinson in Kansas, and Creston in Iowa with the loss of 134 jobs.

The company declined to give crushing capacity figures, but a spokesperson said the closure had “nothing to do with commodity prices.”