North Dakota ranks fourth for soybeans by planted acres and analysts say producers could have a front-row seat to a new age of Domestic biofuel production.
With demand for soybean oil reaching new highs, the state will open two new processing plants in the next two years. Nationwide, crush capacity is expected to grow as much as 30 percent over the next four years with dozens more facilities planned to supply vegetable oil to renewable diesel makers.
This could rock the trade boat, however, since exports of whole soybeans are normally bought by China.
North Dakota officials hope the new facilities will be able to process half of the state’s soy harvest into biofuel and meal for livestock feed.
