NEWS
Thu Mar 14, 2013 04:39 PM CDT

NEW YORK (Dow Jones) -- Four U.S. senators sent a letter to the U.S. Secretary of Agriculture on Thursday requesting the agency provide details on loans made to domestic sugar processors.

The Wall Street Journal reported on Tuesday that the U.S. Department of Agriculture was considering buying 400,000 tons of sugar in order to boost prices to keep processors from defaulting on government loans. The sugar would then be sold to U.S. ethanol producers, likely at a loss of $80 million.

"We request that you explain and justify the potential $80 million cost to the American taxpayer that's been reported," ...

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