Ethanol producer Green Plains reports profit gain

Green Plains Energy of Omaha, which operates ethanol production plants at Shenandoah and Superior and four other plants in Nebraska and Tennessee, reported profits of $23.3 million for the fourth quarter ended Dec. 31 and $20.2 million for the full year.

Those profits reverse losses of $2.1 million for the fourth quarter, 2008 and $8.1 million for the full year of 2008.

Green Plains chief executive officer Todd Becker said "during 2009 and more recently, we have continued to see demand for ethanol increase driven by expanded mandates and positive blend margins."

Becker added that "a record corn harvest resulted in an improved margin environment in late 2009 and early 2010."

In addition to the ethanol plants Green Plains also owns grain storage facilities in western Iowa.

source: desmoinesregister