In Colorado, BioFuel Energy announced that it lost $33.1 million, or $2.18 per share, for the third quarter, recording $50 million in losses from corn hedging operations alone during the quarter. The company said that revenues rose to $90.5 million, with costs rising to $103 million including $74 million for corn. The company said that it owed $17.5 million to Cargill related to hedging losses and that it was exploring with that company how to resolve payment.
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Biofuel Energy faces restructuring, bankruptcy over $46 million in hedging losses[caption id="attachment_3940" align="alignleft" width="300" caption="Biofuel Energy"][/caption]
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