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                            May 17, 2023

       Rose Sparks
       Chief Financial Officer
       FutureFuel Corp.
       8235 Forsyth Blvd., Suite 400
       St Louis, Missouri 63105

                                                        Re: FutureFuel Corp.
                                                            Form 10-K For the
fiscal year ended December 31, 2022
                                                            Filed March 14,
2023
                                                            File No. 001-35103

       Dear Rose Sparks:

              We have limited our review of your filing to the financial
statements and related
       disclosures and have the following comments. In some of our comments, we
may ask you to
       provide us with information so we may better understand your disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Form 10-K For the fiscal year ended December 31, 2022

       Item 7. Management's Discussion and Analysis of Financial Condition and
Results of
       Operations, page 33

   1.                                                   We note your loss on
derivative instruments the past two years was $24,360 and $10,377,
                                                        an increase in
significance when compared to the gain of $4,379 in 2020, the loss of
                                                        $1,301 in 2019 and the
gain of $633 in 2018. In your discussion of gross profit you
                                                        reference "the
unfavorable change in the realized and unrealized activity of derivative
                                                        instruments which
resulted in a reduction in gross profit of $24,360 in 2022, as compared
                                                        to a reduction in gross
profit in 2021 by $10,377. The comparative unfavorable change
                                                        was primarily from the
unprecedented volatility in the NYMEX heating oil futures
                                                        market." You also set
forth in your filing (i) that you enter into commodity derivative
                                                        instruments to protect
your operations from downward movements in commodity prices
                                                        and to provide greater
certainty of cash flows associated with sales of your commodities,
                                                        and (ii) in order to
manage price risk caused by market fluctuations in biofuel prices,
 Rose Sparks
FutureFuel Corp.
May 17, 2023
Page 2
         you may enter into exchange traded commodity futures and options
contracts. Please
         provide us, and in future filings, more insight, analysis, and
explanation into the
         following:

                Whether and to the extent your derivatives program is
accomplishing its objectives;
                The reasons for the increases in derivative gains/losses
recorded in the financial
              statements; and
                The cash versus non-cash components of your losses and gains
from derivative
              instruments and any impact to liquidity and capital resources.
2.       Please tell us how you considered Question 100.01 of the Non-GAAP
Financial Measures
         Compliance & Disclosure Interpretations, as updated December 13, 2022,
in determining
         it was appropriate to include an adjustment for the cash portion of
the loss/gain on
         derivative instruments as part of your non-GAAP adjustment.
       In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.

      You may contact Christie Wong at 202-551-3684 or Michael Fay, Senior
Staff
Accountant, at 202-551-3812 with any questions.



                                                              Sincerely,
FirstName LastNameRose Sparks
                                                              Division of
Corporation Finance
Comapany NameFutureFuel Corp.
                                                              Office of
Industrial Applications and
May 17, 2023 Page 2                                           Services
FirstName LastName