Note 7 - Commitments

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies Disclosure [Text Block]

NOTE 7: COMMITMENTS AND CONTINGENCIES

Commitments

The Company has grain supply agreements to purchase its corn requirements for each of its Indiana Distillery and Atchison plant through a single supplier.  These grain supply agreements expire December 31, 2014.  At December 31, 2012, the Company had commitments to purchase corn to be used in operations through December 2013 totaling $42,586.

The Company has commitments to purchase natural gas needed in the production at fixed prices at various dates through December 2013.  The commitment for these contracts at December 31, 2012 totaled $5,576.

The Company entered into a supply contract for flour for use in the production of protein and starch ingredients.  The initial term of the agreement, as amended, expires October 23, 2015.  At December 31, 2012, the Company had purchase commitments to purchase aggregating $10,899 through June 2013.

As of December 31, 2012, the Company had contracts to acquire capital assets of approximately $585.

At December 31, 2012, the Company had $2,000 outstanding from a letter of credit with a vendor, which reduced the amount available to the Company under its revolving line of credit.

Contingencies

There are various legal proceedings involving the Company and its subsidiaries.  Management considers that the aggregate liabilities, if any, arising from such actions would not have a material adverse effect on the consolidated financial position or overall trends in results of operations of the Company.