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Cardinal Ethanol Llc  (CRDE)
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Cardinal Ethanol Llc's Suppliers Performance

CRDE's Supply Chain

 
CRDE Costs vs Sales of Suppliers Growth Cardinal Ethanol Llc's Suppliers recorded increase in sales by 1.51 % year on year in Q4 2018, from the previous quarter, sales fell by -0.45 %, Cardinal Ethanol Llc's cost of sales deteriorated by % year on year, compare to one quarter ago cost of sales fell by -26.69 % in Q4.

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Cardinal Ethanol Llc's Suppliers recorded increase in sales by 1.51 % year on year in Q4 2018, from the previous quarter, sales fell by -0.45 %, Cardinal Ethanol Llc's cost of sales deteriorated by -2.78 % year on year, compare to one quarter ago cost of sales fell by -26.69 % in Q4.

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Cardinal Ethanol Llc's Comment on Supply Chain


Corn Feedstock Supply
The major raw material required for our ethanol plant to produce ethanol, distillers grain and corn oil is corn. To produce 120 million gallons of ethanol per year, our ethanol plant needs approximately 42 million bushels of corn per year, or approximately 115,000 bushels per day, as the feedstock for its dry milling process. Traditionally, corn grown in the area of the plant site has been fed locally to livestock or exported for feeding or processing and/or overseas export sales.

The price at which we purchase corn will depend on prevailing market prices. We are significantly dependent on the availability and price of corn. The price and availability of corn are subject to significant fluctuations depending upon a number of factors affecting grain commodity prices in general, including crop conditions, weather, governmental programs and foreign purchases. Because the market price of ethanol is not directly related to grain prices, ethanol producers are generally not able to compensate for increases in the cost of grain feedstock through adjustments in prices charged for their ethanol. We therefore anticipate that our plant's profitability will be negatively impacted during periods of high grain prices.
In an attempt to minimize the effects of the volatility of corn costs on operating profits, we take hedging positions in corn futures markets. Hedging means protecting the price at which we buy corn and the price at which we will sell our products in the future. It is a way to attempt to reduce the risk caused by price fluctuation. The effectiveness of hedging activities is dependent upon, among other things, the cost of corn and our ability to sell sufficient amounts of ethanol and distillers grains to utilize all of the corn subject to the futures contracts. Hedging activities can result in costs to us because price movements in grain contracts are highly volatile and are influenced by many factors beyond our control. These costs may be significant.

Ethanol

Our primary product is ethanol. Ethanol is ethyl alcohol, a fuel component made primarily from corn and various other grains. The ethanol we produce is manufactured from corn. Although the ethanol industry continues to explore production technologies employing various feedstocks, such as biomass, corn-based production technologies remain the most practical and provide the lowest operating risks. Corn produces large quantities of carbohydrates, which convert into glucose more easily than most other kinds of biomass. The Renewable Fuels Association estimates current domestic ethanol production capacity of approximately 15.6 billion gallons with approximately 3% of that capacity idled as of October 6, 2016.



Cardinal Ethanol Llc's Comment on Supply Chain


Corn Feedstock Supply
The major raw material required for our ethanol plant to produce ethanol, distillers grain and corn oil is corn. To produce 120 million gallons of ethanol per year, our ethanol plant needs approximately 42 million bushels of corn per year, or approximately 115,000 bushels per day, as the feedstock for its dry milling process. Traditionally, corn grown in the area of the plant site has been fed locally to livestock or exported for feeding or processing and/or overseas export sales.

The price at which we purchase corn will depend on prevailing market prices. We are significantly dependent on the availability and price of corn. The price and availability of corn are subject to significant fluctuations depending upon a number of factors affecting grain commodity prices in general, including crop conditions, weather, governmental programs and foreign purchases. Because the market price of ethanol is not directly related to grain prices, ethanol producers are generally not able to compensate for increases in the cost of grain feedstock through adjustments in prices charged for their ethanol. We therefore anticipate that our plant's profitability will be negatively impacted during periods of high grain prices.
In an attempt to minimize the effects of the volatility of corn costs on operating profits, we take hedging positions in corn futures markets. Hedging means protecting the price at which we buy corn and the price at which we will sell our products in the future. It is a way to attempt to reduce the risk caused by price fluctuation. The effectiveness of hedging activities is dependent upon, among other things, the cost of corn and our ability to sell sufficient amounts of ethanol and distillers grains to utilize all of the corn subject to the futures contracts. Hedging activities can result in costs to us because price movements in grain contracts are highly volatile and are influenced by many factors beyond our control. These costs may be significant.

Ethanol

Our primary product is ethanol. Ethanol is ethyl alcohol, a fuel component made primarily from corn and various other grains. The ethanol we produce is manufactured from corn. Although the ethanol industry continues to explore production technologies employing various feedstocks, such as biomass, corn-based production technologies remain the most practical and provide the lowest operating risks. Corn produces large quantities of carbohydrates, which convert into glucose more easily than most other kinds of biomass. The Renewable Fuels Association estimates current domestic ethanol production capacity of approximately 15.6 billion gallons with approximately 3% of that capacity idled as of October 6, 2016.




CRDE's Suppliers Net profit fell by CRDE's Suppliers Net margin fell in Q4 to
-42.21 % 2.2 %


Cardinal Ethanol Llc's Suppliers Sales Growth in Q4 2018 by Industry

Suppliers in Chemical Manufacturing Industry -1.69 %   
Suppliers in Agricultural Production Industry      5.41 %
Suppliers in Food Processing Industry -0.27 %   
     
• CRDE Suppliers Valuation • CRDE Segment Rev. Growth • CRDE Segment Inc. Growth • CRDE Suppliers Mgmt. Effect.


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CRDE's vs. Suppliers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME TICKER MARKET CAP REVENUES INCOME EMPLOYEES
Cardinal Ethanol Llc CRDE 0 233 6 49
Ocean Bio Chem Inc OBCI 26 39 3 128
Seaboard Corp SEB 5,385 5,989 194 10,772
Chs Inc. CHSCL 0 33,119 943 12,157
Golden Growers Cooperative GGROU 61 47 9 1
Archer Daniels Midland Co ADM 24,103 61,366 1,658 33,900
SUBTOTAL 29,575 100,560 2,806 56,958


             
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