Bankrupt-ethanol producer VeraSun Energy Corp. announced it's placing seven plants on the auction block.  It's part of the bankruptcy deal with Agstar Financial Services. 

Plants in Ord and Central City will soon be sold, and farmers in the areas are anxious for the bankruptcy case to unfold. They're also starting to accept that they probably won't get any money from their contract back. 

"We were behind the ethanol plant 1000%," Merrick County Extension Officer Darrel Siekman said.

That's when VeraSun opened in Central City in 2004. Four years later, Central City farmer Don Benner said, "We're looking at anywhere from a 80,000 to a 100,000 loss."

That's in dollars for Benner and his brother, who farm together. Now,  Benner just wants a buyer to step up quickly, and honor the rest of his contract with VeraSun.

"We hear rumors everyday, it's getting sold, it's not getting sold, it would be nice if they
would just finalize it," he said.

VeraSun filed for bankruptcy at the end of October 2008, blaming falling corn prices.

Siekman said, "We have people with grain in bins with April/May deals...so we'll see what happens to them."

Over in Ord, the Valley County Economic Development Executive Director said the fact that the plant will get new ownership is the crucial aspect for the community.  

Caleb Pollard said, "The last thing they (Ord) want to see is this ethanol plant fail. They're businessmen and want their contracts honored, they want a fair deal."

But Pollard is also concerned about the plant employees. He learned this week the plant will stay open, on stand-by, paying staff through April. The bankruptcy deal with Agstar includes an April 30 extension for plant workers to work and be paid, while the plants sit idle.

"It's hard to find talented people in a rural community," he said.

While plant employees keep getting their paychecks, Benner swallows his $100,000
loss, and what that will mean for equipment sellers who were relying on him.

"We had stuff we were going to buy, we're just not going to buy anymore," he said.

Siekman added, "It's hard for farmers to plan for next year because this situation is still uncertain.

Siekman said another frustarating part of the situation for him and farmers is that the court case is in Deleware, and he said farmers in Nebraska aren't being informed on what's going on. 
Court documents state that VeraSun will auction off the Ord and Central City plants and five others between March 16th and March 31st.  The other ethanol plants are located in Albert City and Dyersville in Iowa, Woodbury, Mich., Hankinson, N.D., and Janesville, Minn.