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Valero idles Nebraska ethanol plant due to margins

Valero Energy Corp temporarily shut down its ethanol plant in Albion, Nebraska, on Tuesday due to poor profit margins at the facility, a company spokesman said.

The plant, which can produce 110 million gallons of the biofuel annually, was expected to restart operations before the autumn corn harvest, while none of the company’s other 10 ethanol facilities were likely to idle, spokesman Bill Day said.

U.S. corn supplies are forecast to shrink to a 16-year low by the end of the summer, according to the U.S. Agriculture Department, squeezing margins at ethanol plants.

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