Mid-Iowa Coop to Launch Shell Rock Soy Processing
Once state and local approvals are secured, a new soybean crushing plant is set to be constructed in Shell Rock, Iowa, with a groundbreaking set for late October 2020.
Farmer-owned Mid-Iowa Cooperative and its CEO Mike Kinley who are behind the project, have expectations that Shell Rock Soy Processing (SRSP) will be operational in 2022. Once fully online, Shell Rock will have the capacity to crush 38.5 million bushels of soybeans per year, or 110,000 bushels per day, to produce 847,000 tons of soybean meal, 462 million pounds of crude soybean oil, and 77,000 tons of pelleted soybean hulls (to be used in livestock feed rations) annually.
At peak activity, 150 trucks will access the plant per day, and the plant will load/unload approximately 35 railcards per day - cutting the typically long waits experienced by farmers at existing plants.
The SRSP project is expected to cost $279 million, and Mid-Iowa, which will own a stake in the operation and will help originate soybeans for the plant, is seeking investors.
The establishment of this plant will not only create jobs, expand market options for Iowa’s farmers, and diversify the local economy, with 25 percent of its products used in-state, but will also benefit the local livestock industry by supplying high-quality 48 percent protein soymeal.