# EDGAR Filing Document

**Accession Number:** 0001163609
**File Stem:** 0001163609-26-000006
**Filing Date:** 2026-2
**Character Count:** 13454
**Document Hash:** a56cd3b1ee4e659ec1c8bf03f29c4504
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001163609-26-000006.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001163609-26-000006

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20260224

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SOUTH DAKOTA SOYBEAN PROCESSORS LLC
- **CENTRAL INDEX KEY:** 0001163609
- **STANDARD INDUSTRIAL CLASSIFICATION:** FATS & OILS [2070]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-50253
- **FILM NUMBER:** 26676714

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CASPIAN AVE.
- **STREET 2:** P.O. BOX 500
- **CITY:** VOLGA
- **STATE:** SD
- **ZIP:** 57071
- **BUSINESS PHONE:** 6056279240

**MAIL ADDRESS:**
- **STREET 1:** 100 CASPIAN AVE.
- **STREET 2:** P.O. BOX 500
- **CITY:** VOLGA
- **STATE:** SD
- **ZIP:** 57071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOYBEAN PROCESSORS LLC
- **DATE OF NAME CHANGE:** 20011213

?xml version='1.0' encoding='ASCII'? sdsp-20260224

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): **February 24, 2026**

![sdsbpl1a40.gif](sdsp-20260224_g1.gif)

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| |
|:---|
| **South Dakota Soybean Processors, LLC** |
| (Exact name of registrant as specified in its charter) |

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| | | |
|:---|:---|:---|
| **South Dakota** | **000-50253** | **46-0462968** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| **100 Caspian Avenue; PO Box 500**<br>**Volga, South Dakota** |  | **57071** |
| (Address of principal executive offices) |  | (Zip Code) |

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| |
|:---|
| **(605) 627-9240** |
| (Registrant's telephone number, including area code) |
| (Former name or former address, if changed since last report) |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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Securities registered pursuant to Section 12(b) of the Act: **None**

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

◻ Emerging growth company

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**Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure.**

On or about February 24, 2026, South Dakota Soybean Processors, LLC published and sent a newsletter to its members containing unaudited consolidated financial statements for the year ended December 31, 2025. The newsletter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

This report on Form 8-K is being furnished pursuant to Item 7.01 Regulation FD Disclosure. The information furnished is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section, and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.None.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.None.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.None.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[99.1](winter2026_sdspnewslette.htm)</u> | <u>[Winter 202](winter2026_sdspnewslette.htm)[6](winter2026_sdspnewslette.htm)[Newsletter for South Dakota Soybean Processors, LLC](winter2026_sdspnewslette.htm)</u> |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| | SOUTH DAKOTA SOYBEAN PROCESSORS, LLC |
| Dated: February 25, 2026 | /s/ Mark Hyde |
| | Mark Hyde, Chief Financial Officer |

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## Exhibit 99.1

![](winter2026_sdspnewslette001.jpg)

2025 CONCLUDES NEAR FORECAST / 2026 HOLDS PROMISE Before the start of the 2025 calendar year, we developed a budget and forecast outlining our anticipated financial results. Historically, forecasting has been challenging due to volatility in processing margins and the inherent uncertainty within agriculture. In 2025, despite significant variability throughout the year, actual results finished very close to expectations. As a result, SDSP delivered solid returns and a respectable performance for the year. Looking ahead to 2026, uncertainty surrounding our performance appears greater than ever. Trade policy developments, federal program changes, interest rate pressures, and increasing global competition all present meaningful challenges. Even so, the underlying fundamentals of our business remain strong. Global protein demand continues to grow at a robust pace. Demand for soybean meal, the premier high- protein feed ingredient in both the U.S. and global markets, has never been stronger. Additionally, soybean oil demand in 2026 has the potential to improve significantly. Rumored Renewable Volume Obligations for 2026–2027 indicate a substantial increase over 2025 levels, which could materially enhance soybean oil values. The coming year will also be pivotal for our newest venture, High Plains Processing. Since coming online this past October, the plant has steadily progressed toward consistent, full-capacity operation. Mechanical and operational challenges are being addressed, and with continued focus and dedication, the facility is well-positioned for a strong first full year of operation. As always, thank you for your continued support. Tom soybean p r o c e s s o r s S O U T H D A K O T A Winter 2026 Newsletter www.sdsbp.com ARTICLES: 1 2025 CONCLUDES NEAR FORECAST / 2026 HOLDS PROMISE 2 UNAUDITED FINANCIAL STATEMENTS 3 HIGH PLAINS PROCESSING PROJECT: PROGRESS UPDATE 3 TAX UPDATE 4 NON-GMO SOYBEANS = INCREASED PROFIT 4 REMINDER: BOARD MEMBER NOMINATION DEADLINE - 1 - Tom Kersting, CEO

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![](winter2026_sdspnewslette002.jpg)

UNAUDITED FINANCIAL STATEMENTS Condensed Consolidated Balance Sheet December 31, 2025 ASSETS CURRENT ASSETS Cash And Cash Equivalents $8,352,627 Trade Accounts Receivable 29,285,341 Inventories 132,834,755 Commodity Derivative Instruments 9,866,657 Prepaid Expenses 3,377,296 Total Current Assets 183,716,676 PROPERTY AND EQUIPMENT 638,123,619 Less Accumulated Depreciation (84,732,372) Total Property And Equipment, Net 553,391,247 OTHER ASSETS Investments 19,156,025 Right-Of-Use Lease Asset, Net 85,535,599 Other Assets 982,687 Total Other Assets 105,674,311 TOTAL ASSETS $842,782,234 LIABILITIES AND MEMBERS' EQUITY CURRENT LIABILITIES Excess Outstanding Checks over Bank Balance $18,713,458 Current Maturities Of Long-Term Debt 646,064 Note Payable - Seasonal Loan 27,372,787 Current Operating Lease Liabilities 8,025,011 Accounts Payable 3,157,382 Accrued Commodity Purchases 73,331,567 Commodity Derivative Instruments 4,968,237 Other Current Liabilities 22,124,638 Total Current Liabilities 158,339,144 LONG TERM LIABILITIES Long-Term Debt, Net Of Current Maturities 251,142,632 Long-Term Operating Lease Liabilities 75,310,587 Other Long-Term Liabilities 16,762,860 Total Long-Term Liabilities 343,216,079 MEMBERS' EQUITY Members' Equity 188,342,694 Non-Controlling Interests In Consolidated Entities 152,884,317 Total Members' Equity 341,227,011 TOTAL LIABILITIES AND MEMBERS' EQUITY $842,782,234 Condensed Consolidated Statement of Operations For the Year Ended December 31, 2025 REVENUES $503,815,120 Cost of Revenues (479,117,044) Gross Profit 24,698,076 Administrative Expenses (7,244,566) Operating Profit 17,453,510 OTHER INCOME (EXPENSE) Interest Expense (6,093,718) Other Non-Operating Income 1,582,768 Total Other Income (Expense) (4,510,950) Net Income 12,942,560 Net Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities (4,793,086) Net Income Attributable to the Company $17,735,646 Basic and Diluted Earings per Capital Unit $0.58 Weighted Average Number of Units Outstanding for Calculation of Basic and Diluted Earnings per Capitol Unit 30,411,500 SDSP Capital Units are traded on an alternative trading system, operated by Variable Investment Associates, Inc. (VIA). Offers to buy or sell capital units can be placed online at www.agstocktrade.com or by calling VIA at 800-859-3018. For more details regarding SDSP's Capital Units Transfer System, please visit our web site at sdsbp.com, or email memberinfo@sdsbp.com. Period Units Traded Average High Low 2025-Q4 38,000 $7.03 $7.50 $6.98 2025-Q3 128,500 $6.96 $7.05 $6.75 2025-Q2 47,250 $6.96 $7.10 $6.70 2025-Q1 25,000 $7.36 $7.50 $7.14 CAPITAL UNITS TRADING HISTORY - 2 -

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![](winter2026_sdspnewslette003.jpg)

- 3 - The end of 2025 saw the results of two years of construction come to completion at the High Plains Processing plant. The newly constructed facility was brought online in phases as construction was completed. Soybean crushing commenced in October, followed by refining operations in November. These accomplishments mark a major milestone in the work completed by the SDSP team and project partners. Plant capacity run rates continue to progress as operating units are streamlined and production efficiencies are optimized. Over the next several months, the focus will remain on testing rates, validating performance, and benchmarking the new asset against existing facilities. These efforts will help establish stable operating baselines, identify opportunities for improvement, and position the plant for reliable, long-term performance as it transitions from startup to sustained operations. We are grateful for the support of project stakeholders, including producers, community partners, investors, contractors, lenders, and regulators, whose collaboration and trust were essential to bringing the facility from concept to operation. HIGH PLAINS PROCESSING PROJECT: PROGRESS UPDATE Carl Odde, Chief Operating Officer During the start-up of High Plains Processing's new facility this fall, the subsidiary elected to utilize bonus depreciation on qualifying capital investments. As a result, the subsidiary generated a sizable tax loss for the year, which was allocated to each of its members, including SDSP's members. Each of our members' Schedule K-1s will reflect their proportionate share of the tax loss allocated to the Company. This tax loss is a timing difference and does not impact the operational performance or cash position of SDSP or High Plains Processing. TAX UPDATE: BONUS DEPRECIATION AND 2025 TAX LOSS ALLOCATION Mark Hyde, Chief Financial Officer

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![](winter2026_sdspnewslette004.jpg)

100 Caspian Ave PO Box 500 Volga, SD 57071 JUST STEPS AWAY! For those that interact in-person with our administrative teams, you will experience the same amazing customer service just steps from our prior location. See the map below to reference our customer entrance. The new office will not be receiving any truck traffic. Signs will be posted at the kiosks with helpful contact information. old admin building new admin building WASHINGTON RD. C A S P IA N A V E. B R IT TA N Y A V E. The demand for Non-GMO soybean products has grown since we began our program in 2015. Today, we reward SDSP-certified growers $2.50/bushel premium for growing this specialty crop. Demand for Non-GMO soybean meal has grown, and one of our largest end users is Houdek, located in Volga, SD. As stated by Mark Luecke, CEO of Houdek, " We are entering the fifth year of strategic supply agreements with the largest salmon feed producer in the world, which is based in Norway. The salmon feed market in Norway requires Non-GMO ingredients, much like the rest of the European Union. The partnership between Houdek, SDSP, and its farmer members to source Non-GMO soybeans provides a distinct competitive advantage to South Dakota soybean growers. We are asking growers to consider planting Non-GMO soybeans in 2026 to help us maintain this competitive advantage." This is an exciting market for SDSP to be involved in. For more information about the program, please give us a call at 1-888- 737-7888. NON-GMO SOYBEANS = INCREASED PROFIT Kari Vander Wal, Soybean Procurement Manager REMINDER If you are interested in running for the Board of Managers, please submit a Nomination Petition Form by March 16th. To request a form, please contact Amy Koisti at 605-627-6100 or email her at amy.koisti@sdsbp.com.

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