Jan 31, 2022

AGP Announces New Soybean Processing Facility

Facility in David City, NE, will have the capacity to process over 50 million bushels of soybeans per year

Ag Processing Inc. announces its plan to build a new state-of-the-art soybean processing plant near David City, NE.

The facility will have the capacity to process over 50 million bushels of soybeans per year.

“The soybean processing industry is experiencing tremendous growth and we believe a facility in East Central Nebraska is strategically located to serve our cooperative members and their farmer-owners," says AGP’s Chairman of the Board, Lowell Wilson. "Maintaining a strong cooperative system is vital to agricultural producers and our rural communities.”

Chris Schaffer, AGP’s CEO says the company has carefully evaluated this opportunity and is confident this investment will generate solid returns for our membership and benefit producers throughout the region.

“Domestic and global demand for soybean meal and soybean oil continues to grow," says Schaffer.

"The David City location will also improve the company’s ability to market soybean meal to the Pacific Rim through AGP’s export terminal in Aberdeen, WA. AGP is currently considering investments that will significantly increase our export capabilities to meet the expected growth in domestic protein supply.”

Chief Marketing Officer Mark Sandeen says the availability and quality of soybeans in the area and access to major rail lines make David City an excellent location for the plant.

"When completed, the David City facility will provide a significant market opportunity for soybean growers in the region through AGP’s cooperative owners," says Sandeen.

The project is expected to create over 60 jobs.

AGP expects operations to begin in 2025. Company officials noted that final construction decisions and timeline are contingent on negotiations with state and local officials regarding economic development incentives, required infrastructure improvements, utility services, and regulatory considerations.

“We are committed to working with local and state officials to develop and invest in sustainable projects to better serve our customers while also benefiting our members, their farmer owners, and the surrounding communities,” says Schaffer.

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Marketwatch: Oct, 02

US Corn Price Idx: ZCPAUS.CM

open: 6.6922
high: 6.8741
low: 6.6102
close: 6.6102

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open: 13.6782
high: 13.7587
low: 13.1333
close: 13.1536

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high: 9.6472
low: 9.1747
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US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

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high: 8.7783
low: 8.2498
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