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ADM to Expand Soybean Crush Facilities to Meet Biofuel Demand

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Archer Daniels Midland (ADM) said Thursday it will expand annual oilseed crush capacity by 700,000 metric tons, supporting strong demand for US biofuels.

ADM's initial investments at four US soybean crush facilities in Frankfort, Indiana; Deerfield, Missouri; Lincoln, Nebraska; and Spiritwood, North Dakota, equate to over 25 million bushels of additional soybean demand.

"Strong demand - supported by biofuels policy in the US - is driving opportunities for farmers and the broader American agricultural sector," said Gary McGuigan, president of ADM's North America Ag Services and Oilseeds business. "

ADM expects the projects to be completed by late 2028 to mid-2029.

In addition, the company is actively evaluating several other North America crush locations for similar future investments.

These projects follow on other recent investments to enhance ADM's U.S. footprint, including upgrades at its Clinton, Iowa, corn facility and capacity expansions at its elevator in Optima, Oklahoma.

Price: $79.92, Change: $-0.69, Percent Change: -0.86%

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