ADM, Marathon partner to operate North Dakota soybean plant
BISMARCK, N.D. (AP) — Agribusiness conglomerate Archer Daniels Midland Co. Archer-Daniels-Midland Co. and Marathon Petroleum Corp. are partnering to operate a soybean processing plant near Jamestown.
The Bismarck Tribune reports the facility will supply soybean oil for Marathon’s renewable diesel plant near Dickinson. Marathon’s Dickinson oil refinery recently converted so that it now produces renewable diesel, a fuel that can be used in diesel engines.
ADM will own 75% of the joint venture it and Marathon have formed to run the soybean facility. Marathon will own the rest.
ADM announced in May it would build the $350 million plant.
The company has said the plant would create 70 jobs and process up to 150,000 bushels of soybeans daily.
The soybean plant is expected to be complete in 2023 in Spiritwood east of Jamestown. It is slated to produce 600 million pounds of soybean oil annually, enough to make 75 million gallons of renewable diesel per year.
North Dakota ranked ninth in the nation in soybean production in 2020, producing more than 190 million bushels of soybeans, according to the National Agricultural Statistics Service.
Cass County, home to Fargo, was the nation’s top soybean producing county as recently as 2018.