SUGAR LAND--December 9, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Cooperative-owned Pine Lake Corn Processors LLC (Steamboat Rock, Iowa) has discontinued ethanol production at the Steamboat Rock, Iowa, fuel ethanol plant to avoid continuing losses. The cooperative bought too much high-priced corn this summer on ill-advised hedging and did not contract enough ethanol at the right price to cover operating costs.
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