USDA Makes a Buy/Sell on Sugar
Fri Aug 30, 2013 03:14 PM CDT

NEW YORK (Dow Jones) -- The U.S. Department of Agriculture bought sugar from domestic processors and sold it to an ethanol producer at a 75% discount, the latest move by the agency to boost prices and stave off defaults on federal loans.

The USDA paid about $3.6 million for the sugar, according to a notice posted on its website Friday. The USDA is required by law to buy the sweetener and sell it to domestic ethanol producers if the agency believes U.S. sugar processors might default on their operating loans.

A U.S. ethanol producer paid $900,000 for the sugar, according ...

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