According to a Sept. 9 report from Feed & Grain, growing demand for biodiesel is driving many large agribusinesses to invest in new high output soybean crush facilities.
In Feed & Grain's most recent look at grain handling construction, "Grain Handling Construction Projects Across the Nation," 12 of the 21-grain handling and processing projects were soybean crush facilities.
"Soybean processing facilities cost between $350-$450 million," Consultant Gordon Denny told Feed & Grain. "The demand is primarily coming from the renewable diesel and the sustainable aviation fuel trends that initiated in California and have been adopted by other states."
The article stated soybean crush capacity is expected to rise 28% of the next 2-3 years.