Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 21

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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, plans and performance, and should be read in conjunction with the financial statements and Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements may include statements which use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “predict,” “hope,” “will,” “should,” “could,” “may,” “future,” “potential,” or the negatives of these words, and all similar expressions. Forward-looking statements involve numerous assumptions, risks and uncertainties. Actual results or actual business or other conditions may differ materially from those contemplated by any forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements are identified in our Form 10-K for the year ended December 31, 2024.

We are not under any duty to update the forward-looking statements contained in this report, nor do we guarantee future results or performance or what future business conditions will be like. We caution you not to put undue reliance on any forward-looking statements, which speak only as of the date of this report.

Executive Overview and Summary

During the nine-months ended September 30, 2025, we recorded net income attributed to the Company of $14.1 million compared to $11.5 million for the same period in 2024. Although gross profit is up compared to the same period in 2024, processing margins has declined. The decline primarily reflects a continuation of trends in 2024, characterized by weaker product values for soybean meal and soybean oil.

As in the previous period, soybean oil prices were significantly affected by reduced demand from the biofuels sector. A major factor contributing to this decline was the federal government’s delay in implementing key components of its biofuel’s programs, leading many biodiesel and renewable diesel producers to scale back production. Although the EPA issued favorable guidance on future volume obligations, market response remained soft, with values continuing to remain at historically low levels.

Soybean meal prices, similarly, have been below long-term averages, offset in part by intermittent improvement following an aggressive U.S. export program. Soybean values paid to suppliers were generally in line with expectations, as the large harvest in the fall of 2024 ensured adequate supply in the first half of 2025. The quality of soybeans during the period was strong overall, with favorable oil and protein content and very low moisture levels.

While the dry soybeans provided advantages