American agribusiness Cargill revealed plans Tuesday to construct a new soybean processing plant near Caruthersville, MO in a bid to meet rising demand for oilseeds. The location has a planned production capacity of 62 million bu/yr.
“Cargill’s new facility, with its location on the Mississippi river, will operate year-round and provide farmers opportunity to take advantage of increased domestic demand versus relying solely on seasonal exports,” Tim Coppage, regional commercial lead, Cargill Agricultural Supply Chain North America, said in a company release. “Access to both river and rail will provide more flexibility and market access for farmers.”
Work on the new facility is expected to commence next year. Cargill anticipates that the facility will become operational in 2026, creating 45 full-time jobs.
“Missouri currently ranks sixth in the United States for soybean production,” Missouri Lt. Gov. Mike Kehoe said in a statement. “The location of the new facility will expand the $94 billion economic impact of Missouri agriculture, our state’s top industry, accelerate economic development and enhance workforce opportunities in the Bootheel.”
The announcement of the Missouri project is part of Cargill’s ongoing efforts to bolster its North American oilseeds network. A $475 million project to modernize and expand Cargill’s soy processing capabilities at sites across seven US states was launched in early 2021.