Soy protein-based polymers offer promising performance properties, but their characteristics are sensitively dependent on production conditions, so on-line monitoring could help provide the needed control during production. Mid-infrared spectroscopy combined with partial least squares offer the needed analysis, but the opacity of many materials in the mid-infrared limits its conventional application. Transient infrared spectroscopy is a method of acquiring mid-infrared spectra from moving streams in real time that avoids the opacity problem. We apply transient infrared spectroscopy to a polymer of soy protein and polyisoprene-graft-maleic anhydride– modified natural rubber during its compounding extrusion to measure tensile strength and Young’s modulus.