The agribusiness giant anticipates breaking ground on the project early next year with the facility set to be operational in 2026; it expects to create 45 full-time positions as a result of the initiative.
The processing facility will be the first of its kind for Southeast Missouri and is set to have annual production capacity of 62 million bushels of soybeans. It will operate year-round and provide farmers opportunity to take advantage of increased domestic demand, versus relying solely on seasonal exports, said the company.
Access to both river and rail will provide more flexibility and market access for growers, said Tim Coppage, regional commercial lead, Cargill Agricultural Supply Chain, North America. "Farmers in that part of Southern Missouri historically had to rely on the river system for export," a spokesperson told FeedNavigator.
Boost for Missouri
The crushing plant will further expand the agricultural sector in Missouri, which contributes US$94bn currently to the state and is its leading industry, noted Missouri Lieutenant Governor, Mike Kehoe.
Gary Wheeler, CEO and executive director of Missouri Soybeans, said his organization, in an effort to increase opportunities for growers, has been working collaboratively with several partners for more than two years to achieve this goal and create a market for their soybeans.
The new location expands Cargill's efforts to modernize and increase capacity across its North American oilseeds network. Last year, the company announced a series of projects including significant improvements to its soybean crush facility in Sidney, Ohio, and construction of a new canola processing facility in Regina, Saskatchewan, Canada.
Cargill has had a presence in Missouri since 1936 and currently operates across 11 locations in the state and employees nearly 1,200 people.