What does VeraSun Energy say about corn ethanol?

Hedging on weather

When CNBC reported that VeraSun Energy was filing for bankruptcy yesterday, I knew it meant something bad for corn-based ethanol.

Turns out that VeraSun made some bad hedges on corn. Flooding in the Midwest caused corn prices to rise significantly, only to drop more than 50 percent, and VeraSun simply made the wrong bet. Yet, this is probably a bet that will have to be made again and again in the future.

Just shows how much the weather can have an impact on ethanol, especially corn-based ethanol. With future weather predictions looking much more volatile, how safe of a bet will corn be in the future?