Note 4 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2013

Commitments and Contingencies Disclosure [Text Block]

Note 4.  Commitments and Contingencies.

Commitments

The Company has grain supply agreements with a single supplier to purchase corn requirements for the Lawrenceburg and Atchison plants.  These grain supply agreements expire December 31, 2014.  At March 31, 2013, the Company had commitments to purchase corn to be used in operations through December 2013 totaling $39,826.

The Company has commitments to purchase natural gas needed in production at fixed prices at various dates through December 2013.  The commitment for these contracts at March 31, 2013 totaled $2,967.

The Company has 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 March 31, 2013, the Company had purchase commitments aggregating $9,935 through December 2013.

As of March 31, 2013, the Company had contracts of approximately $607 to acquire capital assets.

At March 31, 2013, the Company had $2,000 outstanding on a letter of credit for 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.