NEW YORK, NY--(Marketwire - Oct 10, 2012) - Ethanol futures broke its longest streak of gains since July Friday on concerns that high prices would attract imports. Ethanol supplies in the U.S. are currently 8.4 percent higher than they were last year. "There might be a concern that if the flat price rallies too much more we could attract more imports, which is part of the reason we've had a glut in supply," said Ian Jackson, a trader at SCB & Associates. Five Star Equities examines the outlook for companies in the Specialty Chemicals Industry and provides equity research on BioFuel Energy Corp. (
The Environmental Protection Agency in April approved 20 companies to make the new ethanol grade called E15, which is a fuel blend that contains 15 percent ethanol. Concerns regarding storage and use in older vehicles have stalled widespread adoption of the fuel. The EPA has only approved the use of E15 in 2001 and newer vehicles. According to the Renewable Fuels Association since E15 became available in July there have only been eight fuel stations in Kansas and Iowa that offer it, while Nebraska, South Dakota, and Illinois are soon expected to offer the fuel.
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BioFuel Energy currently has two 110 million gallons per year ethanol plants in the Midwestern corn belt. The Company's goal is to become a leading ethanol producer in the United States by acquiring, developing, owning and operating ethanol production facilities. The company has recently decided to idle its Fairmont, Minnesota ethanol facility until further notice.
Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington. The company recently paid back $10 million in unsecured notes with proceeds of a public offering that closed on September 26, 2012.
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