ATKINSON, Neb. (AP) — A Nebraska-based ethanol company is temporarily stopping production to conduct regular maintenance and monitor the corn and ethanol markets.
NEDAK Ethanol operates a plant near Atkinson in northeast Nebraska. It uses about 17 million bushels of corn a year, and produces about 44 million gallons of ethanol annually.
President and General Manager Jerome Fagerland says Friday that the demand for gasoline and ethanol usually increases by Memorial Day as more drivers hit the road, but that has been less so this year.
He says higher corn prices, a surplus of ethanol and an increased demand for corn from developing countries has contributed to "negative crush margins" the industry is experiencing.
Fagerland say the company is still determining the impact of the production stop on its workforce.