Another US Ethanol Plant In Trouble
The Husker Ag ethanol plant at Plainview, Neb., has 'temporarily' shut down, citing volatile commodity markets.
The plant isn’t accepting corn deliveries until further notice and will use the down time for repairs and maintenance.
The shutdown will be used to work out arrangements with corn suppliers and the plant’s lender because of the high cost of corn contracted for 2009 delivery, according to a news release from Husker Ag.
Farmers holding contracts with Husker Ag were reportedly asked by the company Monday to consider agreeing to unsecured notes at 5 percent over five years to help the plant get back on its feet.
The plant isn’t accepting corn deliveries until further notice and will use the down time for repairs and maintenance.
The shutdown will be used to work out arrangements with corn suppliers and the plant’s lender because of the high cost of corn contracted for 2009 delivery, according to a news release from Husker Ag.
Farmers holding contracts with Husker Ag were reportedly asked by the company Monday to consider agreeing to unsecured notes at 5 percent over five years to help the plant get back on its feet.