Corn Plus ethanol shutting down

[kadee79]

There goes another small market for corn....

Starting production in 1994, Corn Plus in Winnebago is one of the more established ethanol production plants in the state of Minnesota.

When news came down today that they were shutting down, it was a tough blow for all involved.

“Hopefully it can be opened again but we don’t know when or how,” said Corn Plus Board Member Don DeLanghe.

With an ethanol market hardly allowing any margins to make a profit, Delanghe says many of the smaller guys are getting cut out.

“The market just won’t quite give us a break and I guess when you’re in the commodity business that’s the risk you take,” said DeLanghe.

Back in May, the Trump administration said it would allow the year–round sale of gasoline with a higher percentage of ethanol.

Although good for ethanol plants, many convenience stores refuse to sell it because of the need to change pumps.

www.keyc.com/2019/08/28/breaking-corn-plus-ethanol-plant-winnebago-shutting-down/

[countrygirl2]

Actually pretty big markets.  A lot of farmers got together and financed those places so they had a market for their corn, going to really hurt them.


It's almost like trump is dismantling this country piece by piece.  Bankrupt us with this gifts to billionaires, destroy the farmers and dairys, they will never be able to come back.  Make it so we can't feed ourselves.  Bankrupt each business a tariff at a time. Destroy what health care we have, destroy the environment, destroy the military, keep destroying.  Then what putin and Russian troops walk in and take over?  I think he sold us out and is destroying us so we can't do anything about it.  Destroy the courts, the congress, the electoral system.


It goes on and on and on.

[Value Buy]

The corn ethenol plants were pretty speculative even when they started building them. Like Country girl said, the farmers started  financing them and building them in the heyday.
They were based on ever rising gasoline prices, and were hard to break even, without Federal government subsidies. At the rate the auto industry is turning to electric vehicles it will not just be the ethenol plants that will go broke in a few decades.

[countrygirl2]

But its bad timing to do it now when the tariffs, floods, and everything is hurting the famers.  You don't just decide to become a farmer, its pretty much generational.  When we lose them they won't be back, you just can't afford to become a farmer now. We are going to sit ourselves up with land and no food.  If bought by foreign companies they will ship the food to them.  Not a smart move.