CHS will continue operating the facilities through the fall harvest and will keep buying grain to deliver to processing and river facilities.
The facility is expected to process 80 million bushels of soybeans annually, producing about 1 billion pounds of soybean oil and 2 million tons of soybean meal.
Construction is expected to begin in the coming weeks, with the facility targeted for completion in fall 2028.
The proposed plant is expected to produce more than 1 million metric tonnes of phosphate-based fertilizer annually, creating a substantial new source of domestically manufactured crop nutrients for American farmers.
The agribusiness firm reported higher losses despite steady revenue growth during the period.