Ag Processing shutters corn processing plant in Nebraska

Ag Processing (AGP; Omaha, NE) says it has begun an extended shutdown of its corn processing plant at Hastings, Nebraska effective last Friday. The decision was based on ongoing challenging economic conditions and their effect on the ethanol industry, but it will continue to evaluate market conditions, the company says. Forty-three employees are affected. “Our facility, like other corn processing plants in the Midwest, continues to experience negative margins due to higher corn prices driven by ongoing drought conditions, and lower ethanol prices,”...

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