I bought a jug of feed grade molasses, about $10 at Tractor Supply
Got a bucket and filled it with about 10% molasses and the rest water:
The test subject was a jack of unknown original (ok, I bought it for my jeep.. it was only $20). The screw was stuck and the steel (more likely cast iron) was rusted and the ball bearings under the cup at the top were rusted so it would not rotate:
Into the brown water it went. Originally I had it in my basement (unheated) and not much happened for 3 weeks. But for the last two weeks I had it outside in the warmer weather and much has happened. A foamy layer of sludge appeared at the top and when I took out the jack and scrubbed it off I was looking at bare metal! The screw turned, the up/down tab worked and the cut at the top was rotating freely.
I have another bucket munching away on some lug nuts and assorted bolts from the CCKW.
Other than the time it took... I must say that I am impressed with the process. Its nowhere near as fast as electrolytic rust removal (that takes about a day) but the two are comparable in results. I would have to give an edge to the molasses simply because if can do the ENTIRE part at once, with no rearranging to get the anode/cathode lined up to get it to work.