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Biofuel Energy, partly owned by venture capitalist David Einhorn, said it has $46 million in combined corn, ethanol and natural-gas hedge and mark-to-market losses and may restructure. The shares plunged 63 percent Tuesday.
The ethanol producer lacks the liquidity to satisfy all of the losses, Denver-based Biofuel said. Cargill holds the contracts and exercised its right to liquidate some of the agreements, the company said.
