Studying the stress relaxation characteristics can provide important process parameters for the granulation and briquetting of biomass materials. In this study, a generalized Maxwell model and fractional model were established to describe and analyze the stress instantaneous drop behavior of a cornstraw-potato residue mixture during the stress relaxation process. Stress relaxation characteristic parameters, e.g., the stress instantaneous drop time, were obtained. Using this information, the influence of the compression speed on the stress instantaneous drop time, stress relaxation time ratio, and other parameters were analyzed. In addition, the regression model of the compression frequency and compression speed was established, which provided a method for determining the appropriate compression frequency of the molding equipment according to the compression speed.