Farmers Union invests half a million in soybean processing plant
1 Aug 2017
FOR IMMEDIATE RELEASE: 07-31-17
“Anytime we add value to a commodity, we enhance farm income.”
– Mark Watne
(JAMESTOWN, N.D.) – North Dakota Farmers Union (NDFU) announced today that it has invested $500,000 in a soybean crushing facility and refinery to be located near Spiritwood, N.D. The facility, a North Dakota Soybean Processors’ (NDSP) project, will utilize 125,000 bushels of soybeans per day once completed.
“Having a commodity processing facility like this in North Dakota is essential to helping farmers and ranchers,” said NDFU President Mark Watne. “We’ll have another avenue to market soybeans in state, and value is being added to that crop. Anytime we add value to a commodity, we enhance farm income.”
Scott Austin, general manager of Minnesota Soybean Processors which is the majority investor and managing member of the project, said the facility will have a major impact on value-added agriculture in the state. “It is great to have an organization like NDFU, that represents producers from all over the state, be a part of this,” he said. “Throughout this process, NDFU has provided great support to NDSP. We are grateful and look forward to our partnership with them for years to come.”
Watne said he hopes the project paves the way for more processing facilities in the state, especially those that are farmer-owned.
For more information about the project, go to ndsoy.com.
Founded in 1927, NDFU is the state’s largest general farm organization with more than 47,500 member families. The organization is committed to the advancement of family farm and ranch agriculture and quality of life for people everywhere through member advocacy, educational programs, cooperative initiatives and insurance services.