# More US soybean oil crushing capacity planned in N.D. joint venture

> CGB Enterprises and Minnesota Soybean Processors formed a joint venture to build a soybean crushing plant near Casselton, North Dakota. The facility is expected to crush 42.5 million bushels in its first year and be fully operational by 2024, with construction starting in spring 2022. The plant will produce soybean meal and food-grade soybean oil for renewable fuel and food users.

- Date: 2021-12-23 · published 2021-12-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/43699-more-us-soybean-oil-crushing-capacity-planned-in-n-d-joint-venture
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

New crush capacity adds demand for soybeans and soybean oil, while the added meal output is bearish for soybean meal prices. The project is a long-term capacity addition and has limited near-term price impact.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/122321-more-us-soybean-oil-crushing-capacity-planned-in-nd-joint-venture

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.