(Fairmont, Mn.)– Biofuel Energy Corporation says it is idling its ethanol plant in Fairmont, Minnesota until further notice.
The plant stopped production last week.
Corn prices have been high this summer, and impacts of the drought on the corn belt are still being felt. CEO Scott Pearce notes there also has been a glut of ethanol, lowering prices for the corn-based fuel additive.
Pearce said Monday the Denver-based ethanol production company isn’t making any changes to its current operations team so that it can restart the Fairmont plant in short notice.
Another plant the company owns in Wood River, Nebraska is still operating.
(From the Associated Press.)
