South Dakota Soybean Processors LLC (OTC: SDSYA) is an agricultural processing company that crushes soybeans into soybean meal, soybean hulls, and soybean oil at its Mitchell, South Dakota facility. Revenue is transactional, generated by selling these three commodity co-products to livestock producers, fish farms, and food and industrial buyers. The company operates as a member-owned LLC structured as an agricultural cooperative processor. FY2024 revenue was $554.4 million, down from $703.1 million in FY2023, with gross margin compressing to 5.3% in FY2024 from 11.2% in FY2023. Net income attributable to the company was $20.3 million in FY2024 versus $70.4 million in FY2023. The business is capital-intensive and commodity-price-sensitive, carrying CoBank revolving credit facilities with interest rates between 5.91% and 7.11% as of December 31, 2025. Thomas Kersting serves as Chief Executive Officer and Mark Hyde as Chief Financial Officer, as of the 10-K filed March 31, 2026.

Revenue model

Transactional commodity sales. The company crushes soybeans and sells the resulting co-products: soybean meal and hulls (approximately 80% of each bushel by weight) and crude soybean oil (approximately 20%). Revenue tracks commodity prices and processing volumes.

Products and services

Soybean meal (sold as animal feed to livestock producers and fish farms), soybean hulls (sold as animal feed), and soybean oil produced in multiple grades (sold to food, petroleum, and chemical industries). A 60-pound bushel yields approximately 44 pounds of meal, 4 pounds of hulls, and 11 pounds of crude oil.

Customers and end markets

Livestock producers and fish farms (soybean meal and hulls as feed). Food industry buyers (soybean oil for cooking oils, salad dressings, baking fats, butter substitutes). Petroleum and chemical industry buyers (soybean oil). No customer concentration figures are disclosed in the filing excerpts.

Value-chain role

Midstream agricultural processor. The company sits between soybean farmers (raw input suppliers) and end-market buyers in feed, food, and industrial sectors. It operates processing facilities located near soybean production areas in South Dakota, with railway infrastructure at the Mitchell facility supported by a $12.6 million South Dakota Department of Transportation loan to the Davison Regional Railroad Authority, effective March 2025.

Geographic exposure

Operations centered in Mitchell, South Dakota. South Dakota ranked eighth among U.S. soybean-producing states with 243 million bushels of production as cited in the FY2025 10-K filing.

Source: SEC 10-K, filed 2026-03-31

Industry: Fats & Oils