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Commitments and Contingencies
 9 Months Ended
Oct. 31, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

Note 15. Commitments and Contingencies


The Company is involved in various legal actions arising in the normal course of business. After taking into consideration legal counsels’ evaluations of such actions, management is of the opinion that their outcome will not have a material effect on the Company’s consolidated condensed financial statements.


One Earth and NuGen have combined forward purchase contracts for approximately 8.4 million bushels of corn, the principal raw material for their ethanol plants. Approximately 13% of these contracts provide for a fixed purchase price, the purchase price of the remaining 87% of such contracts will be determined subsequent to the end of the third quarter. They expect to take delivery of a majority of the grain through February 2015.


One Earth and NuGen have combined sales commitments for approximately 42.5 million gallons of ethanol, approximately 122,000 tons of distillers grains and approximately 10.2 million pounds of non-food grade corn oil. They expect to deliver a majority of the ethanol, distillers grains and non-food grade corn oil through March 2015. Approximately 7% of the ethanol contracts and 100% of the distillers grains and non-food grade corn oil contracts provide for a fixed selling price. The selling price of the remaining quantities will be determined subsequent to the end of the third quarter.