                                                                      Exhibit 99
[MIDWEST GRAIN PRODUCTS LOGO AND ADDRESS]
NEWS RELEASE

FOR IMMEDIATE RELEASE:  MIDWEST GRAIN REPORTS SIGNIFICANT
                        FIRST QUARTER EARNINGS IMPROVEMENT

     ATCHISON,  Kan., Nov. 6, 2001--Ladd Seaberg,  president and chief executive
officer of Midwest Grain Products,  Inc.  (MWGP/Nasdaq) today announced that the
company's  earnings  performance in the first quarter of fiscal 2002 represented
"a  significant  positive  turnaround"  versus the same  period the prior  year.
Results for the quarter, which ended Sept. 30, show net income of $2,444,000, or
30 cents per common  share,  on sales of  $54,294,000.  That compares to the net
loss of $395,000,  or 5 cents per common share, on sales of $58,297,000 that the
company experienced in the first quarter of fiscal 2001.

     The first quarter  earnings gain resulted  primarily from strong demand for
the  company's  fuel grade  alcohol,  commonly  known as ethanol,  combined with
reduced  energy  costs  and  increased  sales of  specialty,  value-added  wheat
proteins,  according to Seaberg.  Income recognized from a previously  announced
United States  Department of Agriculture  program to support the  development of
products and markets for  value-added  wheat  protein and wheat starch  products
also contributed to the improvement, he noted.

     Although high demand for Midwest Grain's alcohol  products  occurred mainly
in  the  fuel  grade  market,   sales  of  food  grade  alcohol  for  industrial
applications also experienced modest growth compared to a year ago. A previously
announced $2.1 million distillery  improvement project at the company's Atchison
plant is underway and is scheduled for completion in the third quarter of fiscal
2002.  The project  involves the  installation  of equipment that is designed to
enhance  both  food  grade  and  fuel  grade  alcohol  production  capabilities.
Additionally,  plans are in place for the  installation  of a new feed  drier at
Midwest  Grain's  distillery  operations in Pekin,  Ill.  Distillers feed is the
principal  by-product of the company's alcohol production process.  Scheduled to
be completed by the end of fiscal 2002 at a cost of $5 million, the new drier is
expected to improve the Pekin plant's alcohol production efficiencies.

     Last month,  Midwest  Grain's  Board of Directors  approved an $8.3 million
expansion   project  that  is  designed  to  strengthen   production  and  sales
capabilities  for the company's  specialty  wheat  proteins.  The expansion will
occur at the  company's  Atchison  plant and is slated for  completion  by July,
2002. This project will involve the  installation  of additional  processing and
drying  equipment  for the  production of specialty  wheat  proteins for bakery,
pasta and noodle and related food markets both domestic and foreign.

     As  previously  announced,  the cost of the  protein  expansion  project is
expected  to be offset by funds  from the USDA  program  for  value-added  wheat
protein and wheat starch  products.  Implemented this past June and administered
by the USDA's Commodity Credit  Corporation,  the program was granted in lieu of
an  extended  quota on  imports of foreign  wheat  gluten.  Over the life of the
program,  which is scheduled to end May 31, 2003,  Midwest Grain is eligible for
nearly $26 million of the program total of $40 million.  For the first 12 months
of the program,  approximately  $17.3 million has been allocated to the company.
The remaining  amount is expected to become  available  starting next June.  The
funds are to be used for capital,  research,  marketing  and  promotional  costs
related to value-added wheat protein and starch products. Funds received will be
recognized  in  income  during  the  period  in which  they are  expended  for a
permitted purpose. However, funds that are used for capital expenditure projects
will be  recognized in income over the periods  during which those  projects are
depreciated.  Funds  are  not  intended  to be  used to  reduce  production  and
marketing-related  costs for  commodity  vital wheat  gluten and wheat  starches
which could extend the U.S. industry's participation in these markets.

                                     -more-

<PAGE>

ADD 1--MIDWEST GRAIN REPORTS

     In recent  years,  Midwest  Grain has  created  a  variety  of  value-added
wheat-based  ingredients  for both  edible and  non-edible  applications.  These
include a line of textured wheat  proteins  called  Wheatex,  which enhances the
texture and flavor of vegetarian and extended meat  products;  a series of wheat
protein  isolates  marketed under the Arise brand name and used to improve dough
systems and pasta  products;  over 20 specialty and modified  wheat proteins and
starches for personal care systems; and polymers made from a wheat protein/wheat
starch  compound  for  use  in the  manufacture  of  biodegradable  plastic-like
products.

     "These  ingredients as a whole continue to experience growth and hold great
promise for the future," Seaberg said. "We anticipate  expanding these lines and
making  additions to them in our mission to continually  provide  customers with
superior products derived from grain and other natural ingredients."

     Due  to  increased  pricing   pressures  from  subsidized   European  Union
producers,  the  company  has  elected to reduce its  production  of vital wheat
gluten,  the protein portion of flour that is used  principally in many types of
bread. "Since the expiration of the import quota this past June, those pressures
have increased  substantially,"  Seaberg said.  "Therefore,"  he added,  "unless
future conditions warrant  otherwise,  we plan to maintain a reduced presence in
the more traditional commodity-related wheat gluten and wheat starch markets. At
the same time, we will  concentrate on growing our  value-added  products in the
specialty wheat protein and wheat starch areas."

     Dramatic  spikes in natural gas prices which drove up the company's  energy
costs  through most of fiscal 2001  continued  to subside in the current  year's
first  quarter.  "As I have  stated  previously,  we expect our energy  costs to
remain at lower,  more reasonable levels in the coming months," Seaberg said. "I
must also reiterate that we have developed an effective risk management  program
to analyze and respond to energy-related issues and events that could affect our
operations."

     Saying that he feels the company's first quarter performance "is indicative
of the  kind of  progress  Midwest  Grain  is  capable  of  achieving,"  Seaberg
expressed  optimism about the potential for further  improvements  ahead.  "That
potential can be effectively  realized," he said, "with the continuation of more
normal  energy costs and  reasonable  grain costs  combined with high demand for
alcohol  products  and  growth  in sales of our  specialty  wheat  proteins  and
starches."

This news release  contains  forward-looking  statements  as well as  historical
information. Forward-looking statements are identified by or are associated with
such  words  as  "intend,"  "believe,"   "estimate,"   "expect,"   "anticipate,"
"hopeful,"  "should," "may" and similar  expressions.  They reflect management's
current  beliefs  and  estimates  of  future  economic  circumstances,  industry
conditions,  company performance and financial results and are not guarantees of
future performance. The forward-looking statements are based on many assumptions
and factors,  including those relating to grain prices,  gasoline prices, energy
costs,   product  pricing,   competitive   environment  and  related   marketing
conditions, operating efficiencies, access to capital and actions of governments
or government officials. Any changes in the assumptions or factors could produce
materially different results than those predicted and could impact stock values.

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