ADM to expand soybean processing capabilities, reports solid first quarter crushing performance
It will meet the demands for soy from food, feed, industrial and biofuel customers, as well as producers of renewable diesel, said the agribusiness giant.
The US$350m facility will use state-of-the-art automation technology and the capacity to process 150,000 bushels of soybeans per day, said ADM.
Strategically located in a major soybean producing area, ADM said its global logistics network will enable the facility to access both domestic and global markets for soybean oil and meal.
The facility is expected to be complete prior to the 2023 harvest.
Greg Morris, president of ADM’s ag services and oilseeds business, commented: “This exciting new project allows us to partner with North Dakota farmers to further advance the role of agriculture in addressing climate change through the production of low carbon feedstocks for products such as renewable diesel.”
“This soybean processing plant is a gamechanger for North Dakota farmers, adding value and expanding the market for this important crop closer to home while also supporting the production of products such as renewable green diesel right here in North Dakota,” said North Dakota Governor Doug Burgum.
“We’ve been working to bring this new soybean crushing facility to North Dakota and met with key leaders from ADM over two years ago to develop this plan,” said Senator John Hoeven. “We’re pleased that this new plant will be open in 2023, as it will provide a significant new market for North Dakota soybean growers, while creating good jobs and economic growth.”
ADM also plans to invest around US$25m to expand refining and storage capacity at its crush and refining facility in Quincy, Illinois. That project will align the location’s refining capabilities with its crush capacity. The expanded capacity is expected to be online by Q1 2022.
Best crushing performance
ADM reported a solid performance in its crushing business for Q1 2021.
“Crushing delivered its best quarter ever, as the business leveraged its diversified global footprint to capture strong execution margins in both soybean and soft seed crushing, driven by robust vegetable oil demand and tight soybean stocks,” read the group’s Q1 financial report.