The present invention provides a biodegradable thermoplastic composition made of a cereal grain that is treated with an organic solvent, and optionally a cross-linking agent such as an aldehyde, an acid anhydride or an epoxide, to link together the starch and protein of the cereal grain. The compositions may be used to make extruded or molded articles that are biodegradable, water-resistant, and have a high level of physical strength.