Louis Dreyfus Company (LDC) announced Friday the construction of a soybean processing plant in Upper Sandusky, Ohio with integrated crushing, vegetable oil refining and lecithin production and packaging capabilities.
Construction will begin in early 2024; the new facility will employ over 100 people with an annual soy crushing capacity of 55 million bushels (1,500,000 mts). Annual production will be 320,000 mts of soybean oil and 7,500 mts of lecithin.
Dreyfus recently expanded soybean crushing in Claypool, Indiana, and canola processing in Yorkton, Saskatchewan, Canada.
Thanks to Don for sending us this information.
Baker Hughes reported the USA had 624 gas and oil rigs drilling this past week, 2 more rigs than the previous week, but down 147 from a year ago. Canada had 198 rigs drilling, 5 more than a week ago, but 12 less than a year ago.
Argentina & Currency
Argentina is conducting its presidential election today.
As all socialist governments, Argentina has learned that the only thing wrong with socialism is that eventually a socialist government cannot borrow nearly enough money to keep all the voters happy who have become addicted to free things. So, the obvious solution is to print more money, creating runaway inflation.