Kemin Industries to Expand in Des Moines

Kemin Industries, a maker of nutritional ingredients sold globally, is negotiating a deal to buy about 24 acres of industrial land owned by the city of Des Moines, Iowa. The company wants to

Aerials of Des Moines, Iowa from 10,000 feet May 6, 2017. USDA photo by Preston Keres.

enlarge its international nutritional ingredient business in the Agrimergent Technology Park on the southeast part of the city. Kemin has its corporate headquarters situated in the tech park, as well as its advanced molecular research center.

The company just opened a new expansion, a corporate office with 94,000 square feet of space, including labs and a fitness center. The new space cost $30 million and opened this past August.

What Kemin will do with its new land purchase has not been announced. The company stated that it “anticipates the area containing a mix of manufacturing and warehouse functions.”

“It’s very positive. This area has been sitting undeveloped for a long time,” said Terrance Vorbrich, a city of Des Moines economic development coordinator.

Corn Prices Face Pressure as Weather and Planting Improve

Corn prices under pressure from rain and good planting

Corn prices under pressure from rain and good planting

Don Roose, market analyst with US Commodities in West Des Moines says it is not just the weather and better planting that has put pressure on corn prices over the last few days.

“World value, world competition has also picked up. We now have Ukraine more aggressive, trying to sell some corn in the world market as our crop looks like it’s starting to move forward in a good condition here.  So, you know, that’s really what’s happened; fund selling and liquidation as the weather improves,” said Roose.

Corn futures for July ended on Wednesday down by 3 and a half at $4.69. For December prices are down 6 and a half at $4.63.
Roose also commented on soybeans, which he says are trying to hold together.

“The strength really is from the tightness we have in the U.S. situation with our ending stocks.  New crop conditions continue to improve on soybeans, so it’s really the old crop that’s holding the new crop together.”

Soybean futures in July closed up one and a quarter at $14.99. For November they are up one and a quarter also, at $12.44.

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