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ETHANOL NEWS
Please go to the individual title pages for updated news briefs and information. The news leads below are not up to date, but are an example of the news briefs. The individual title pages are updated throughout the week.
Ethanol Market The marketplace for ethanol news, information, and consulting
As NYMEX moves business operations to CME Group, they are moving toward providing a single Web site containing valuable information on all products and services. They are in the final phase of decommissioning nymex.com and the final changeover to www.cmegroup.com is planned for January 15th, 2010.
Much of the nymex.com content from the About the Exchange, News, Education, Visitors, Resources and Shareholder Relations sections of the site already redirects to content on cmegroup.com. The Energy Products and Metals Products are available as well on cmegroup.com.
RFA President Bob Dinneen letter to CARB "I am writing to seek clarification on several issues related to reporting and compliance obligations for the Low Carbon Fuels Standard (LCFS). As the planned implementation date for the LCFS is rapidly approaching, our member companies who would be considered regulated parties under the LCFS are increasingly concerned about their ability to fulfill required reporting and compliance obligations under the program. This is because the reporting mechanisms and compliance tools apparently still have not been completed...more
Grain Processing Corporation (GPC) has announced a GNS beverage grade ethanol price increase of $0.08 per proof gallon beginning February 1, 2010. They have advised their customers that in order to ease the impact of this increase, it will be phased in, with a February 1, 2010, price increase of $0.04/proof gallon above the 1/1/10 price, and a March 1, 2010 price increase of $0.04/proof gallon over the 2/1/10 price. GPC is citing increasing feedstock costs and increasing energy cost to produce high quality GNS. Both the beverage grade and the industrial market continues to experience very strong demand. In addition to the GNS beverage grade announcement, GPC has announced an industrial ethanol price increase. Effective January 1, 2010, Grain Processing Corporation will increase all schedule and off-schedule prices for 190 and 200 proof pure and all denatured industrial ethyl alcohol formulations by $0.20 per wine gallon, not to exceed list price schedule. Strong demand and tight inventories are expected to continue well into 2010.
Just today, December 1, 2009, the United States EPA has decided to postpone the decision on allowable ethanol blends in gasoline. They will postpone a decision on whether to raise the percentage of ethanol allowed in gasoline, and keep the maximum blend level at 10 percent, and at some point in the future, expand the maximum blend level based on a study of the effects of higher ethanol blends on engines for cars and other equipment such as lawn mowers. December 1, 2009, was the deadline to make a decision resulting from the Growth Energy request for a waiver to allow up to 15 percent ethanol blends. After a turbulent year, the ethanol industry was looking at today’s deadline with cautious optimism, with hopes for an increase from 10% up to 12% to 13% ethanol blends in gasoline. Earlier this year, in March, Growth Energy, an ethanol industry trade association, submitted a formal request to the United States Environmental Protection, requesting permission under the Clean Air Act to allow the use of conventional gasoline that contains as
much as 15% ethanol. Other than E85 (85% ethanol) the current maximum limit has been 10% since 1978. Throughout the process, the EPA was steadfast in their commitment to make a public decision regarding the waiver request on or before December 1, 2009.
The new Inbicon Biomass Refinery got a royal reception at the grand opening in the Danish port of Kalundborg last week. His Royal Highness Prince Joachim led the inauguration of the first Inbicon plant to publicly showcase its technology for turning straw into ethanol. He was accompanied by Fritz H. Schur, chairman of the supervisory board of DONG Energy, Inbicon’s parent company; Anders Eldrup, DONG Energy CEO; and other Danish and European Union officials whose organizations provided financial support to the plant...more
Archer Daniels Midland (ADM) reports Q1 results, for the period ending September 30, 2009. ADM reported announced earnings of $ 496 million and net sales of $ 14.9 billion for the quarter ended September 30, 2009...more
Just weeks before Copenhagen fills with world leaders attending the 15th annual United Nations Climate Change Conference, we’re celebrating the Grand Opening of Inbicon’s Kalundborg plant.
As the first demonstration model of an Inbicon Biomass Refinery, the new plant can turn 110 tons of wheat straw per day into 1.5 million gallons a year of The New Ethanol and other renewable energy products. On November 18, His Royal Highness Prince Joachim of Denmark will lead the Danish delegation participating in the opening ceremonies. 1.5 million gallons is not a misprint,” CEO Niels Henriksen points out. “At a time when the U.S. press is giving bloated attention to 50,000 gallon projects, the size and scope and sophistication of Inbicon projects are quietly making history.”
Wheat isn’t the only biomass we can handle. At our pilot plants, Inbicon’s patented and proprietary technology has successfully converted corn stover, sugar bagasse, empty fruit bunches, miscanthus, and other soft biomass...more
Renewable Fuels Association - The Environmental Protection Agency is taking comments from the public on the expanded Renewable Fuels Standard (RFS2) until September 25th. That means we’ve got a limited window of opportunity to urge the agency to address the way it’s stacked the deck against biofuels in the proposed rule. (To read more details regarding how, click here.) Take a moment now to send your thoughts to the EPA. To get started, click on the “Participate” button on the right.If you’d like instructions on using our tool please click here for our guide to speaking out on RFS 2
Exxon Mobil Corporation (NYSE: XOM) announced today an alliance with leading biotech company, Synthetic Genomics Inc. (SGI), to research and develop next generation biofuels from photosynthetic algae. “This investment comes after several years of planning and study and is an important addition to ExxonMobil’s ongoing efforts to advance breakthrough technologies to help meet the world’s energy challenges,” said Dr. Emil Jacobs, vice president of research and development at ExxonMobil Research and Engineering Company. “Meeting the world’s growing energy demands will require a multitude of technologies and energy sources. We believe that biofuel produced by algae could be a meaningful part of the solution in the future if our efforts result in an economically viable, low net carbon emission transportation fuel.” ...more
After 54 straight days of increases, the national ave for regular gas fell Sunday down to 269 cpg. Prices are up over 60 cpg si...less than 5 seconds ago...from our Twitter page, http://www.twitter.com/EthanolMarket
The United States House passed the Food and Energy Security Act of 2007(H.R. 2419), commonly known as the Farm Bill, which is a $290 billion bill, with higher/increased subsidies for farmers and food stamps for the poor amid rising grocery prices while sprinkling in pet projects that lawmakers can take home to voters this election year. The 318-106 vote for the five-year bill gave supporters 28 more than they need to override a promised veto from President Bush. President Bush is on record stating that the bill is too expensive and generous to farmers, who are now enjoying record earnings. On Thursday, the United States Senate passed the bill as well, also with a veto proof margin of 81-15. The House passed the bill, 318-106, on Wednesday. To override a veto, each chamber must call a new vote and pass the bill by a two-thirds majority. The President has threatened to veto the measure, and he will get his chance as it is now on his desk but it appears that an override is eminent. President Bush feels that bill subsidizes multimillionaire farmers while Americans face higher food prices. The White House says the bill has $10 billion in hidden spending and rather than embrace reform, increases subsidy rates for wheat and soybeans...more
Resonant BioSciences, LLC and Ethanol Technology are proud to announce the introduction of PureMash™ technology as an antibiotic free alternative for the ethanol industry. PureMash™ is a unique chlorine dioxide generation-based system that allows superb microbial control without the use of antibiotics and offers an attractive alternative for those ethanol plants that want to achieve antibiotic residual free DDGS and enhanced fermentation performance...more
NYMEX has launched a New York Harbor Ethanol Futures contract, on March 31, 2008. The contract is physically delivered, traded on CME Globex and cleared on NYMEX Clearport (Exchange of futures for physical “EFP” available on NYMEX Clearport). The NYMEX New York Harbor Physical Ethanol Futures is based on delivery at terminals in the harbor...more
Last week the United States Senate passed the energy bill with a vote of 86-8, and today the House easily cleared the bill with a 314-100 vote. By this time Wednesday, the bill in all likelihood will be signed into law by President Bush. Last week, the White House stated “The Senate energy plan will update CAFE standards and enhance the use of renewable fuels. By addressing the concerns of the Administration and moving forward with a bipartisan approach, senators have taken steps to improve our economic and energy security. If this legislation makes it to the president's desk, he will sign it into law.”..more
EIA Short Term Energy Forecast - Global oil markets will likely remain tight through the forecast period. EIA projects that world oil demand will grow much faster than oil supply outside of the Organization of Petroleum Exporting Countries (OPEC), leaving OPEC and inventories to offset the resultant upward pressure on prices...more
Adopting a less is more approach, the U.S. Senate passed legislation today that would establish a36 billion gallon Renewable Fuels Standard while increasing fuel economy requirements for the first time in nearly 30 years. The Senate retooled the version of the bill sent to them by the House of Representatives last week, primarily by deleting the entire tax title. Senate Republicans objected to the removal of tax breaks to the petroleum industry and the White House had threatened to veto the bill if those provisions were included. The Senate also deleted a Renewable Electricity Standard from the House version...more
NYMEX and Other Major Market Participants to Form The Green Exchange™,
The World’s Most Comprehensive Environmental Marketplace
NYMEX Leads Venture with Evolution Markets, Morgan Stanley, Credit Suisse,
JPMorgan, Merrill Lynch, Tudor Investment Corp., ICAP, and Constellation Energy
New Exchange Will Offer Contracts for Carbon, Renewable Energy, and Other
Major Environmental Commodities...more
On December 6th, the United States House passed the Energy Independence and Security Act by a vote of 235-181...more
MGP Ingredients announces first quarter fiscal 2008 financial results...more
Trafigura joins forces with Alcotra, a leading ethanol trading firm..more
POET celebrates 20th anniversary
U.S. Senator John Thune among those on hand to commemorate the event...more
According to CEPEA/ESALQ, Ethanol Hydrated trades enlarged 90.3 percent in one year In November, Brazilian ethanol market moved at a better pace, due to...more
In response to a request from the Petroleum Marketers and Convenience Stores of Iowa (PMCI), the EPA has granted marketer blenders an extension until February 28, 2008 to file 2007 third quarter reports on their RINS related transactions...more
The EPA has announced that the (RFS) Renewable Fuel Standard for 2008 is
4.66%. This standard is used by obligated parties -- refiners, importers, and blenders (other than oxygen blenders) to calculate their renewable volume obligation...more
VeraSun Energy Corp. (NYSE: VSE) and US BioEnergy Corp. (NASDAQ: USBE) today announced they have entered into a definitive merger agreement, which has been unanimously approved by the board of directors of each company. The merger is expected to close during the first quarter of 2008, pending shareholder approval, anti-trust regulatory clearance and the completion of other customary conditions...more
Praj successfully commissions British Sugar Bioethanol Plant;
U.K.’s First Bioethanol Plant commissioned..more
US BioEnergy Corporation (NASDAQ:USBE) today announced net income of $11.1 million, or $0.15 per share, for the quarter ended September 30, 2007, compared to $8.3 million, or $0.12 per share, for the second quarter of 2007. Net income for the quarter ended September 30, 2007 included a one-time impairment charge of $2.5 million, related to the company’s third party marketing and services businesses. EBITDA was $24.2 million for the quarter ended September 30, 2007, compared to $21.8 million for the second quarter of 2007...more
Range Fuels, Inc. announced today that it has signed a $76 million Technology Investment Agreement with the U.S. Department of Energy (DOE). Range Fuels’ selection for negotiation of this grant was initially announced in February, 2007 and the organizations have agreed on contract terms to allow project funding. Range Fuels was one of six companies selected by the Department of Energy for financial support in building a commercial cellulosic ethanol plant, and will be the first to break ground with a celebratory event November 6, 2007 at the future site of its Soperton, GA. Plant...more
Praj first half income grows by 50%; Net Profit growth in excess of 100% over corresponding half year...more
Aventine Renewable Energy Holdings, Inc. (NYSE: AVR), a
leading producer, marketer and end-to-end provider of clean renewable energy, today released its
results for the third quarter and nine months ended September 30, 2007.
Ron Miller, Aventine’s President and Chief Executive Officer said, “Ethanol prices fell
significantly beginning in August...more
Hawkeye Energy Holdings is pleased to announce that Byron Stewart has accepted the position of Director of Transportation and Logistics Services, effective immediately. Byron has recently served as Hawkeye Gold Director of Marketing and Transportation and this newly formed position leads all corporate transportation functions and business activities. Byron has over 25 years of transportation experience in agriculture and 10 years experience in merchandising...more
Range Fuels will break ground on the nation’s first commercial cellulosic ethanol plant Tuesday, November 6, 2007...more
Aventine Renewable Energy Holdings, Inc., recently announced that it plans to hold a conference call on Wednesday, October 31, 2007 to discuss its third quarter and nine month 2007 results. A news release and supporting financial data will be released to the news wire services and the New York Stock Exchange after the market closes on Tuesday, October 30, 2007...more
US BioEnergy Corporation (NASDAQ:USBE), a leading ethanol producer in the United States, announced today that it will report its third quarter financial results on November 13, 2007 before the market opens and will host a conference call at 10:00 a.m. Central Time...more
VeraSun Energy Corporation (NYSE: VSE), one of the nation’s largest ethanol producers, today announced it will release its third quarter results before the market opens on Thursday, Nov. 15, 2007. The Company will host a live conference call and webcast at 10 a.m. EDT/9 a.m. CDT. Donald L. Endres, Chairman, President and Chief Executive Officer, and Danny C. Herron, Senior Vice President and Chief Financial Officer, will host the call..more
Archer Daniels Midland Company announced that they will release financial results for its first quarter before the market opens on Tuesday, November 6. 2007. The Company will host a conference call and audio Web cast at 8AM Central Time to discuss financial results and provide a Company update...more
Ladd Seaberg announced today that he plans to step down as chief executive officer of MGP Ingredients, Inc. (Nasdaq/MGPI) effective June 30, 2008, but will continue as chairman of the company’s board of directors after that date. He simultaneously announced that he will be succeeded as ceo by Tim Newkirk, current president and chief operating officer of the company...more
The ChemPro Group, LLC, a full-service design-build company specializing in modular process solutions, prefabricated assemblies, and project management, announced that the company has contracted with Golden Triangle Energy of Craig, MO, to design and build a modular distillation dehydration plant for the production of high-quality ethanol from corn-based fermentation feedstock. According to Steve Lavorerio, President of ChemPro, the project is in progress, with equipment fabrication and site preparation underway...more
The Renewable Fuels Association (RFA) offers on October 4th its most sincere thanks and appreciation to Ron Miller, President and CEO of Aventine Renewable Holdings, Inc., for his service as chairman of the RFA.
Aventine is one of the oldest members of the RFA and Miller has held the position of chairman on three different occasions, most recently from 2005-2007. "There are few in today’s ethanol industry more committed to its success than Ron Miller,” said RFA President Bob Dinneen...more
VeraSun Energy Corporation,h one of the nation’s largest ethanol producers, today announced that it will suspend construction of its 110 million-gallon-per-year ethanol biorefinery in Reynolds, Ind., due to current market conditions. The company expects to resume construction in 2008, depending upon the return of more favorable market conditions...more
MGP Ingredients, Inc. held its annual meeting of stockholders. Three directors, Cloud Cray, Jr., John Speirs, and John Byom, who stood for re-election were approved with their terms expiring in 2010. Chairman and CEO Ladd Seaberg presided over the presentation to stockholders...more
POET announced three new general managers to the team. Mark Borer has joined POET as the General Manager for POET Biorefining - Leipsic, Dave Hudak has joined POET as General Manager for POET Biorefining - Alexandria and Dave Gloer has joined the company as General Manager for POET Biorefining - Caro...more
Outlining a plan to elevate Kentucky’s economy, Dr. Pearse Lyons, president and founder of Kentucky-based Alltech, will speak at various locations throughout the state as part of a tour to promote innovation in agriculture. The theme for the tour is 'Vision 2010: Fueling the Future of Rural Kentucky.'...more
ConocoPhillips and Archer Daniels Midland Company(ADM) announced that they have agreed to collaborate on the development of renewable transportation fuels from biomass. The alliance will research and seek to commercialize two components of a next-generation biofuel production process..more
PetroSun, Incorporated announced today that the Company has formed PetroSun BioFuels Refining to participate in a joint venture that will construct and operate a biofuels refinery in Arizona...more
North American Bioproducts Corporation (NABC), provider of
fermentation products and technology to the ethanol industry, announces their third bi-annual Ethanol Short
Course. In a continuing effort to develop, educate and train both new and experienced industry colleagues,
NABC will hold the Ethanol Short Course on February 11th -15th, 2008 in Schaumburg, IL. The Renaissance
Hotel and Convention Center will host the five day event...more
Hawkeye Energy Holdings, LLC, one of the largest producers of ethanol in the U.S., is pleased to announce that Martin A. Lyons has joined Hawkeye as Chief Commercial Officer, effective today. Marty has most recently served as Senior Vice President in charge of Archer Daniel Midland’s ethanol, corn processing and sweeteners businesses. Marty has over twenty-eight years of sales, marketing, strategic planning, and regulatory management experience and helped pioneer the fuel ethanol additive business in the energy industry...more
Corn production is forecast at a record 13.3 billion bushels, up 254 million from last month, because of higher yields. The forecast yield of 155.8 bushels per acre would be the second highest ever. Sorghum yields are also forecast at a record 73.9 bushels per acre. Sorghum production is forecast at 495 million bushels. Ethanol production forecast was lowered for both 2006/07 and in 2007/08, based on current capacity and reported production. Exports were raised this month to offset lower grains production in other parts of the world. Prices for feed grains remain strong, supported by record wheat and strong soybean prices. Feed Outlook,
September 14, 2007
President Bush Announces Resignation of Secretary of Agriculture Mike Johanns
Rose Garden - 9:27 A.M. EDT. September 20, 2007 - THE PRESIDENT: Good morning. Mike Johanns has informed me that he plans to return home to Nebraska, which means that his service as Secretary of Agriculture must come to an end. Mike has been an outstanding member of my Cabinet. I knew he would be when I asked him to become the Secretary of Agriculture. I've known him for a long time. I've admired the fact that he is not only a decent person and an honest person, but he's a person who can get some things done...more
VeraSun Energy Corporation, one of the nation’s largest ethanol producers, today announced that Mark Dickey has joined the company as Vice President and Assistant General Counsel. All together, Dickey brings more than 20 years of legal experience, including 14 years in private practice...more
US BioEnergy Corporation (NASDAQ:USBE), a leading producer of ethanol in the United States, today announced that it has been selected by NASDAQ as one of 17 companies that will be featured in its new advertising campaign, “NASDAQ and the Companies that Move Life Forward,” that profiles NASDAQ-listed companies and how each of them improve the way we work and live every day...more
VeraSun Energy Corporation (NYSE: VSE), one of the nation’s largest ethanol producers, will hold a VE85™ pump tour promotion, Friday, Sept. 21, at the Freedom Valu Center on East College Drive in Marshall, Minn. VeraSun will sell its branded VE85™, a blend of 85 percent ethanol and 15 percent gasoline, for 85 cents per gallon beginning at 11:30 a.m. CDT. The station is located at 304 East College Drive...more
Today in Portland, Indiana, POET hosted a grand opening ceremony for their 21st ethanol production facility. With the additional 65 million gallons of production coming online, POET becomes the largest producer of ethanol in the world. Portland is the first POET plant in the state of Indiana, with two additional plants currently under construction...more
The USDA now forecasts the 2007 U.S. corn crop at 13.308 billion bushels, 254 million (1.9 percent) larger than the August forecast and 2.773 billion (26.3 percent) larger than the 2006 crop. The larger crop forecast reflects the expectation of a U.S. average yield of 155.8 bushels. That forecast is three bushels above the August forecast and 6.7 bushels above the 2006 average, but 4.6 bushels below the record yield of 2004...more
CME Group, the world's largest and most diverse exchange, today announced the listing of options on Ethanol futures, tools for customers to better manage risk in the energy industry, scheduled to begin trading electronically on e-cbot® October 5 and then on the CME Globex® platform in January...more
Lallemand is proud to announce the appointment of Bill Nankervis as its new General Manager of its Ethanol Technology business unit.
Bill comes to Ethanol Technology from Lallemand’s Anchor Yeast subsidiary in South Africa where he was Director of their Bakery Specialties (bakers yeast and baking & milling enzymes) business...more
U.S. Sen. Dick Lugar spoke today at the opening of the POET ethanol plant in (Portland) Jay County and will address the opening tomorrow at the Central Indiana Ethanol Facility in (Marion) Grant County. “Biofuels offer the dual opportunity for an economic revitalization of rural America and a solution to a serious national security problem,” said Lugar, who has been a leading advocate for the use of biofuels to decrease our strategic dependence on foreign oil...more
The New York Mercantile Exchange, Inc.(NYMEX) today announced that it will launch its new alternative energy equity index futures contract on CME Globex and NYMEX ClearPort, beginning on September 30 for trade date October 1, 2007. This contract was previously scheduled to launch on August 20th, but was postponed...more
Archer Daniels Midland announced appointments in the Company's Commercial and Production group which is responsible for ADM's origination, merchandising, processing and marketing functions. John Rice, executive vice president, Commercial and Production, said, "These appointments advance our long-term and incremental business goals. I am confident that these individuals will provide leadership -- on both a personal and organizational level -- that will ensure ADM's continued success."...more
Directors from Florida International University’s (FIU) Energy and Business Forum along with senior engineers and public policy experts from General Motors (GM) will be at FIU on September 12, 2007 to announce the arrival of E85 ethanol in South Florida.
Currently E85 ethanol is not available in South Florida, Wednesday's announcement will disclose when and where E85 ethanol will be available for the first time in the area...more
CME Group to Offer Clearing for Ethanol Basis Swaps - CME Group, the world’s largest and most diverse exchange, today announced the introduction of clearing services for over-the-counter (OTC) Ethanol Basis Swaps beginning October 5, enabling the biofuels and other industries to take advantage of the benefits of centralized clearing, including daily mark-to-market margining and reduced counterparty risk...more
Go to Press Release Page for the most comprehensive
list of Biofuels Press Releases on the Web...more
RECENT IMPORTANT HEADLINES
Since the crop beginning, Brazilain sugar price drops more than 30 percent...more
Brazilian Ethanol
Prices are 35 percent lower than in 2006...more
Senator Dick Lugar Applauds Announcement of First Public E-85 Pump in Washington, DC...more
EPIC to Host E85 Seminar at FEW in St. Louis June 27, 2007..more
US Bioenergy celebrates ground breaking of Minnesota refinery..more
POET Biorefining – Big Stone completes refinery expansion, increases annual ethanol production
capacity to 75 million gallons...more
ICE Announces Acquisition of ChemConnect’s
Commodity Trading Business...more
ICE and CBOE Enter Exclusive Agreement Regarding CBOE Exercise Rights as Part of ICE’s Proposed Merger with CBOT; Agree in Principle on Commercial Partnership...more
US Bioenergy to acquire Millennium Ethanol, increaseing capacity by 100 million gallons per year...more
Alcotra announce the alliance of
Belgium Alcotra Bioenergy S.A and Brazil Agro Industrila Tabu S.Amore
Domain name " www.ethanol.com " will be auctioned off in New York in June. Ethanol Market owns a number of related domain names...more
POET Breaks Ground on Ethanol BiorefineryProduction
Facility near Marion, Ohio...more US Bioenergy begins production at the Ord, Nebraska, refinery...more
Senator Dick Lugar Speech to Environmental Defense Board of Trustees...more
Chicago Board of Trade (CBOT) Highlights Ethanol
and the Indianapolis 500...more
Aventine Renewable Energy Holdings, Inc. (NYSE: AVR), a
leading producer, marketer and end-to-end provider of clean renewable energy, today announced
that its net income for the first quarter of 2007 increased more than 22% over the same period a
year ago...more
Notice from Grain Processing Corporation (GPC) regarding removal of
brucine sulfate from GPC denaturant program...more
The Brazilian Mercantile & Futures Exchange (BM&F) launched on Tuesday, April 24th, a new ethanol futures contract...more
Greenfield Ethanol opens their new ethanol refinery in Quebec...more
The United States Department of Agriculture (USDA) has released the 2007 corn plantings report, which indicates 90.5 million acres...more
In a major move, the nation’s largest dry mill ethanol producer changed its name from Broin to Poet ™...more
President Bush, in his State of the Union Address, announces the
20x10 Renewables Fuels Plan...more
The NPRA responds to Biofuels Security Act of 2007...more
Midwest Grain Products Ingredients (MGPI) Wheat Gluten is not linked to the major pet food recall...more
RFA President Bob Dineen State of the Ethanol Industry Address at the National Ethanol Conference...more
Governor George Pataki and John Cahill have joined Chadbourne's New York office, where they will focus on energy, environmental and corporate matters...more
Ethanol Market The marketplace for ethanol news, information and consulting
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Fuel Ethanol Rack Prices
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Unfortunately, VeraSun will need to reject some corn contracts for delivery through Dec. 31, 2008 at our Janesville and Welcome, Minn., facilities due to the delayed startups. Other contracts may need to be rejected or renegotiated as we continue to work through them on an individual basis.
The Company has also temporarily ceased receiving corn and processing at certain facilities while we seek to secure additional financing. VeraSun appreciates the loyalty of our corn suppliers and their willingness to continue to work with us through the reorganization process.”...more
VeraSun Energy Corporation has terminated Danny C. Herron, the President and Chief Financial Officer. Bryan D. Meier, formerly the Vice Presidneet of Finance and Chief Accounting Officer will replace Danny Herron. Click on the following link for the Form 8K, dated November 14, 2008; VeraSun, 8K, November 14, 2008
ARCHER DANIELS MIDLAND REPORTS RECORD FIRST QUARTER RESULT
Company’s strong financial condition, global network enhance ability to act on opportunities
Archer Daniels Midland Company (NYSE: ADM) today announced record quarterly net earnings of
$ 1.05 billion for the quarter ended September 30, 2008, up 138 % from the period a year ago.
Corn Production Down Slightly from September. Soybean Production Up Slightly. Cotton Production Down 1 Percen.t Orange Production Down 10 Percent from Last Season. Corn production is forecast at 12.0 billion bushels, down slightly from the September forecast and 8 percent below 2007. Based on conditions as of October 1, yields are expected to average 153.9 bushels per acre, up 1.6 bushels from September and 2.8 bushels above last year. If realized, this will be the second highest yield on record, behind 2004, and production will be the second largest, behind last year. Yield forecasts are lower than last month across the Ohio and Tennessee Valleys and eastern Corn Belt as dry conditions during September continued to adversely affect the...more
