Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Abengoa Temporarily Idles Illinois Ethanol Plant on Margins

Oct. 1 (Bloomberg) -- Abengoa SA, a Spanish engineering and renewable energy company, will temporarily idle a Madison, Illinois, ethanol plant for maintenance and because of poor production margins.

The plant has the capacity to produce 88 million gallons of ethanol annually, Christopher Standlee, a spokesman for the company, said in a telephone interview today. Seville-based Abengoa doesn’t know how long it will be idle, he said.

Standlee said the company decided to idle the plant during routine work after the worst U.S. drought in 56 years scorched cornfields and raised the cost of producing the biofuel.

Denatured ethanol for October delivery slipped 0.4 cent to $2.34 a gallon at 1:03 p.m. local time on the Chicago Board of Trade. Futures have gained 6.2 percent this year.

Corn for December delivery rose 1.75 cents to $7.58 a bushel in Chicago. One bushel makes at least 2.75 gallons of ethanol.

Based on December contracts for ethanol and corn, plants are losing about 41 cents on each gallon of the biofuel produced, data compiled by Bloomberg shows. That doesn’t include profit from the sale of dried distillers’ grains, a byproduct of ethanol production that can be fed to livestock.

Biofuel Energy Corp., a U.S. ethanol producer partially owned by venture capitalists David Einhorn and Daniel Loeb, shut its 115 million-gallon-a-year plant in Fairmont, Minnesota, because of poor profit margins Sept. 24.

To contact the reporter on this story: Mario Parker in Chicago at

To contact the editor responsible for this story: Dan Stets at ABG SM <Equity>

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.