ANALYSIS-VeraSun's undoing a lesson for ethanol sector


By Sam Nelson CHICAGO, Nov 26 (Reuters) - In May, ethanol maker VeraSun Energy Corp was talking about acquisitions. By October it was seeking bankruptcy protection. In the interim, corn prices shot to record highs then plummeted 50 percent, leaving VeraSun tangled in a maze of hedges which were intended to protect it from price hikes but instead left it vulnerable when prices crashed. VeraSun's plight is a lesson in risk management for the fledgling U.S. ethanol industry as it endures ...

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