Valero's ethanol segment includes its ethanol operations, associated marketing activites and logistics assest that support its ethanol operations. Through subsidiaries, Valero owns 11 ethanol plants in the Mid-Continent region of the United States with a combined production capacity of approximately 1.4 billion gallons per year. Valero sells ethanol primarily to refiners and gasoline blenders under term and spot contracts in the wholesale bulk markets. The ethanol is distributed through logistics assets, which include railcars owned by Valero.
Price Later Contract terms: Please be advised that credit sale contracts (also known as price-later contracts) are not valid unless they are signed by the grain seller. Until a signature is provided, such contracts are considered cash contracts and must be cashed out within 30 days of corn delivery. If a grain seller fails to provide a signed contract to VGM within 20 days of corn delivery, VGM will proceed to cash out the contract.