Grain traders take Nebraska ethanol plants to court over 2008/09 trades

In Nebraska, the case of Lansing Trade Group v. Mid-America Bio Energy Commodities of Nebraska has opened in Lincoln County District Court where the traders say Mid-America owes them $22 million from 2008/09 when corn prices soared to $8 a bushel and then fell to $4 a bushel. Mid-America owns two ethanol plants in Madrid and Cambridge that buy 16 million bushels of corn per year to produce 40 million gallons of ethanol annually.