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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934.
Date of Report (Date of earliest event reported) April 4, 1996.
HIGH PLAINS CORPORATION
(Exact name of registrant as specified in its charter)
Kansas #1-8680
(State or other jurisdiction of (Commission File
incorporation) Number)
200 W. Douglas #48-0901658
Suite #820 (IRS Employer
Wichita, Kansas 67202 Identification No.)
(Address of prinicipal
executive offices)
(316)269-4310
(Registrant's telephone number)
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Item 5. Other Events
High Plains Corporation recently announced that it has reduced its
ethanol production to approximately 80% of plant capacities. This
reduction was implemented to take full advantage of the Company's
forward contracts to purchase grain at an average price of
approximately $3.00 per bushel, versus the current spot price of
over $4.00 per bushel. The Company had previously announced that it
had forward-contracted approximately 80% of its grain needs through
July, 1997. By cutting back production to 80%, the Company can produce
by using its low-cost grain, and avoid paying the much higher spot
prices on the 20% which was not forward-contracted.
The Company still receives the benefits of higher prices on sales of its
grain co-products, wet and dried distiller's grains, which historically
have risen along with the price of corn.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date April 4, 1996 HIGH PLAINS CORPORATION
Raymond G. Friend
Executive Vice President
- Chief Financial Officer
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