October 25, 2023 Mike Pearson tells us how soybean growers will have many more buyers in the years to come. It’s in part thanks to more processing centers being built across the country. The American soybean industry can handle soybeans in three ways: Storage: Dry soybeans, then keep them on the farm or in grain elevator for months even years at a time. Ship: Soybeans can be shipped across the globe. The USA is only second in the world ot Brazil to shipping whole soybeans. In 2022, China bought $17 billion bushels and Mexico was second in purchasing. Crush: Soybeans can be crushed into soybean meals and soy oil. It used to be hard to find buyers for the soy oil but that’s changed thanks to soy diesel which has pushed prices higher. A new processing plant was announced last week for Sandusky, Ohio, which will be able to take 50 million bushels a year. However, the construction of the facility will take a couple of years. A newly built processing plant in North Dakota started taking soybeans in September. It took 18 months to construct the plant. IT is taking 150,000 bushels of soybeans everyday. Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of [This Week in Agribusiness](http://www.farmfutures.com/week-agribusiness). You May Also Like Current Conditions for Boone, IA 15°FOvercast Day 19º Night 9º [See Detailed Weather Report](/) Enter a zip code to see the weather conditions for a different location. [Jan 11, 2024](/commentary/what-s-preventing-a-new-era-of-herbicides-) What’s preventing a new era of herbicides?|4 Min Read [Jan 11, 2024](/farm-policy/good-news-and-bad-news-for-2024-commodity-programs) Good news and bad news for 2024 commodity programs|6 Min Read [Jan 11, 2024](/commentary/a-balance-sheet-for-u-s-agriculture-in-2024) A balance sheet for U.S. agriculture in 2024|3 Min Read Recommended [Jan 11, 2024](/markets-and-quotes/afternoon-market-recap) Grains make final prep for Jan. WASDE report|5 Min Read [Jan 11, 2024](/marketing/flash-sales) USDA exports – Mexico buys corn, January 11, 2024|23 Min Read [Jan 11, 2024](/markets-and-quotes/morning-market-review) Corn edges down amid growing global stocks|6 Min Read [Jan 11, 2024](/farm-business/kickoff-2024) Kickoff 2024 in farm business|2 Min Read [REGISTER NOW](https://register.farmfuturessummit.com/)
