Wheat Growers Welcomes AGP
AGP Soybean Plant FAQ:
What has been announced?
AGP is building a new soybean processing plant in Aberdeen.
Who is AGP?
AGP is the largest cooperative soybean processor in the world. AGP is a federated coop (owned by the coops that do business with AGP, including Wheat Growers) headquartered in Omaha.
How long has AGP been working on this?
AGP announced over a year ago that they were exploring building a soybean plant in the Dakotas, and in November of this year they announced the location. AGP has been in the soybean processing business since 1983 and they currently have nine plants across the Midwest.
How many soybeans will AGP crush a year?
AGP has announced a projected annual capacity of 40 million bushels a year in the new plant.
Is this good for ND/SD farmers?
We feel this announcement is great news for farmers in the Dakotas, as this plant should be the largest single demand point for soybeans in the two state area.
When will the new plant start operations?
The plant is expected to come online in 2019.
How will this plant effect Wheat Growers?
We anticipate this plant being a very good market for the soybeans we handle, and expect a large portion of the soybeans we will sell will go to this plant. Wheat Growers and their farmer members will benefit from both, better market prices and better patronage streams, with Wheat Growers being one of the member owners of AGP.
AGP has been a longtime customer, buying beans from and selling meal to Wheat Growers. Wheat Growers is an owner in this federated coop, which is owned by 174 local and regional cooperatives. We have an excellent relationship with AGP, and look forward to helping Dakota farmers utilize this market, as well as, our other markets to maximize their returns on soybeans.
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