Dive Brief:
- Bunge's massive elevator in Cincinnati has withdrawn bids for grain - an indication that the company will not reopen the site this year.
- The facility, which can hold as much as 4 million bushels of corn, soybean, and wheat, was hit by an explosion on Aug. 22.
- No one was injured in the blast, which was captured by security cameras.
Dive Insight:
The closing of the elevator is an inconvenience, although not a massive one, for farmers and merchandisers who sell to Bunge, but the big losers here are poultry producers. Bunge uses Cincinnati's rail lines to move grain to the southeastern U.S., where large-scale chicken operations are the primary buyers.