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BioFuel Energy has climbed aboard the ethanol bandwagon. Now that bandwagon seems to be on an uncertain course. The company's two plants have the combined capacity to produce 220 million gallons of ethanol annually, as well as 720,000 tons of distillers grains. The company sells all of its production to agribusiness giant Cargill, which in turn gives it reliable corn supplies, an established logistics/transportation network, and marketing expertise. BioFuel Energy went public in 2007, using the proceeds to repay outstanding debts, as well as to fund construction of its...
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