West of Mpls MN about 50 miles on Hwy 12 | https://www.iasoybeans.com/newsroom/article/isr-january-2023-soybean...
To date, there have been announcements for 23 plant expansions, which would add about 750 million bushels per year in crush capacity.
Of the 23 crush plant announcements, 13 are for new plants and 10 are for expansion of current plants, at least two of which have been completed. However, announcements are not shovels in the ground. Expansion is based upon growing renewable diesel production, and as the biofuels industry grows, so will the crush plant buildout.
In general, the newly announced crushing plants are more west and north than previous plants. Soybean production has been expanding in this direction. The Northern Plains were more export-dependent, as crush capacity and animal ag did not exist locally to utilize soybeans in those locations.
The anticipated timeline of the buildout of capacity would be over several years. Of the 2.33 million bushels per day of increased nameplate capacity, 120,000 has already been built. For the 2023 to 2025 calendar years, there are about 430,000 to 530,000 bushels per day of capacity planned. This would bump up to 800,000 bushels per day in 2026. However, some of these longer timeframe announcements are more likely dependent on market and other factors for completion.
Edited by CMN 9/21/2023 10:10
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Renewable fuel from soybeans. What’s actual expected need in near future?
