Valero mothballed three of its 10 ethanol plants during Q4

In Texas, Reuters reports that due to high ethanol inventories mixed with high corn prices, Valero had to idle three of its 10 ethanol plants during the fourth quarter of 2012. The trend follows along with others around the country mothballing due to high corn prices, with the Renewable Fuel Agency reporting that 34 plants were idle as of Monday.