(AP) -- VeraSun Energy says it's preparing to close its ethanol plant in Woodbury, Mi. This is VaraSun's only facility in Michigan. Roger McEowen, an industry expert from Iowa State University, says the plant is no longer accepting corn from farmers and will shut down after existing supplies are used up.
South Dakota based VeraSun, the nation's second-largest ethanol producer, filed for Chapter 11 bankruptcy on Oct. 31. On Wednesday, it announced a net loss of more than $476 million in the last quarter.
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