The policy has received positive feedback from key industry stakeholders, who view it as a pivotal advancement in fostering self-sufficiency.
According to the USDA, Brazil will remain the undisputed leader with approximately 40% of global supply.
The measure aims to shield consumers from the impact of rising global wheat and barley prices on bread production costs.
The plant is designed to crush up to 35 million bushels of soybeans annually, with plans to process sunflower, canola, and camelina by 2026.
The surge is driven mainly by favorable weather conditions and an expanded olive harvest expected to hit 2 million tons, compared with 950,000 tons last year.