<SEC-DOCUMENT>0000930413-16-005622.txt : 20160224
<SEC-HEADER>0000930413-16-005622.hdr.sgml : 20160224
<ACCEPTANCE-DATETIME>20160224115016
ACCESSION NUMBER:		0000930413-16-005622
CONFORMED SUBMISSION TYPE:	10-K/A
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20150131
FILED AS OF DATE:		20160224
DATE AS OF CHANGE:		20160224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REX AMERICAN RESOURCES Corp
		CENTRAL INDEX KEY:			0000744187
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				311095548
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		10-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09097
		FILM NUMBER:		161450959

	BUSINESS ADDRESS:	
		STREET 1:		7720 PARAGON ROAD
		CITY:			DAYTON
		STATE:			OH
		ZIP:			45459
		BUSINESS PHONE:		9372763931

	MAIL ADDRESS:	
		STREET 1:		7720 PARAGON ROAD
		CITY:			DAYTON
		STATE:			OH
		ZIP:			45459

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REX STORES CORP
		DATE OF NAME CHANGE:	19930915

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AUDIO VIDEO AFFILIATES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K/A
<SEQUENCE>1
<FILENAME>c84097_10ka.htm
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED
STATES</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 10-K/A</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amendment No. 1</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL REPORT PURSUANT TO SECTION 13
OR 15(d) OF </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934 </B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 59%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">FOR THE FISCAL YEAR ENDED JANUARY 31, 2015</font></td>
    <TD STYLE="width: 41%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">COMMISSION FILE NO. 001-09097</font></td></tr>
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<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REX AMERICAN RESOURCES CORPORATION</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 43%; padding-right: 6pt; padding-left: 6pt; text-align: center">Delaware<br>
<font style="font-size: 9pt">(State or other jurisdiction of</font><br>
<font style="font-size: 9pt">incorporation or organization)</font></td>
    <td style="width: 20%; padding-right: 6pt; padding-bottom: 2.9pt; padding-left: 6pt">&nbsp;</td>
    <td style="width: 37%; padding-right: 6pt; padding-left: 6pt; text-align: center">31-1095548<br>
<font style="font-size: 9pt">(I.R.S. Employer Identification No.)</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 6pt; padding-left: 36pt">&nbsp;</td>
    <td style="padding-right: 6pt; padding-left: 36pt">&nbsp;</td>
    <td style="padding-right: 6pt; padding-left: 36pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 6pt; padding-left: 6pt; text-align: center">7720 Paragon Road, Dayton, Ohio<br>
<font style="font-size: 9pt">(Address of principal executive offices)</font></td>
    <td style="padding-right: 6pt; padding-bottom: 2.9pt; padding-left: 6pt">&nbsp;</td>
    <td style="padding-right: 6pt; padding-left: 6pt; text-align: center">45459<br>
<font style="font-size: 9pt">(Zip Code)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code (937) 276-3931</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities registered pursuant to Section
12(b) of the Act:</P>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 41%; font-size: 9pt; text-align: center; vertical-align: bottom"><font style="font-size: 9pt"><u>Title of each class</u></font></td>
    <TD STYLE="width: 20%; text-align: center; vertical-align: bottom">&nbsp;</td>
    <TD STYLE="width: 39%; font-size: 9pt; text-align: center; vertical-align: bottom"><font style="font-size: 9pt">Name of each exchange</font><br>
<font style="font-size: 9pt"><u>on which registered</u></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><font style="font-size: 10pt">Common Stock, $.01 par value</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="font-size: 10pt; text-align: center"><font style="font-size: 10pt">New York Stock Exchange</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if
the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act<FONT STYLE="color: red">. </FONT>Yes <FONT STYLE="font-family: Wingdings">o</FONT>
&nbsp;&nbsp;No <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the
registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes <FONT STYLE="font-family: Wingdings">o</FONT>
&nbsp;&nbsp;No <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the
registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes <FONT STYLE="font-family: Wingdings">&thorn;</FONT>
&nbsp;&nbsp;No <FONT STYLE="font-family: Wingdings">o</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the
registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to
be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period
that the registrant was required to submit and post such files). Yes <FONT STYLE="font-family: Wingdings">&thorn;</FONT>
&nbsp;&nbsp;No <FONT STYLE="font-family: Wingdings">o</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if disclosure of
delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant&rsquo;s
knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment
to this Form 10-K. <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer&rdquo;, &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act. (check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 20%; font-size: 10pt"><font style="font-size: 10pt">Large accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT></font></td>
    <TD STYLE="width: 26%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">&thorn;</FONT></font></td>
    <TD STYLE="width: 30%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">Non-accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT></font></td>
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center"><font style="font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Wingdings">o</FONT></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Do not check if a smaller reporting company)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes <FONT STYLE="font-family: Wingdings">o</FONT>
&nbsp;&nbsp;No <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the close of business on July 31, 2014
the aggregate market value of the registrant&rsquo;s outstanding Common Stock held by non-affiliates of the registrant (for purposes
of this calculation, 1,427,140 shares beneficially owned by directors and executive officers of the registrant were treated as
being held by affiliates of the registrant), was $569,775,056.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were 7,899,607 shares of the registrant&rsquo;s
Common Stock outstanding as of March&nbsp;30, 2015.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Documents Incorporated by Reference</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Portions of REX American Resources Corporation&rsquo;s
definitive Proxy Statement for its Annual Meeting of Shareholders on June 2, 2015 are incorporated by reference into Part III of
this Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><PAGE></PAGE></TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>EXPLANATORY NOTE</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Amendment No. 1 on Form 10-K/A to the Annual Report on
Form 10-K of REX American Resources Corporation (the &ldquo;Company&rdquo;) for the fiscal year ended January 31, 2015, filed with
the Securities and Exchange Commission on March 31, 2015, is being filed solely to include (i) the report of Boulay PLLP dated
February 17, 2015, except for the other matters paragraph in their opinion as to which the date is July 15, 2015, relating to the
consolidated financial statements of Patriot Holdings, LLC and subsidiaries, an equity method investment of the Company, as of
December 31, 2014 and 2013 and for each of the three years in the period ended December 31, 2014, on which the Company&rsquo;s
principal accountant placed reliance with respect to amounts included in the Company&rsquo;s consolidated financial statements
for Patriot Holdings, LLC as referred to in its report and (ii) the consent of Boulay PLLP. There are no other changes to the Form
10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Form 10-K/A speaks as of the original filing date of the
Form 10-K, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update
in any way disclosures made in the original Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 8%"><B>Item 15. </B></TD>
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 92%"><B><U>Exhibits and Financial Statement Schedules</U></B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.5pt; text-align: justify; text-indent: -52.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"></TD><TD STYLE="text-align: justify">(a)(2)(ii) <U>Examination of Financial Statements By More Than One Accountant</U></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"></TD><TD STYLE="text-align: justify">Report of Independent Registered Public Accounting Firm on the consolidated financial statements
of Patriot Holdings, LLC required pursuant to Rule 2-05 of Regulation S-X is filed as Exhibit 99(a) to this report.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"></TD><TD STYLE="text-align: justify">(a)(3) <U>Exhibits</U></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"></TD><TD STYLE="text-align: justify">The following exhibits are filed as a part of this report.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 27pt">&nbsp;</td>
    <TD STYLE="width: 67pt"><font style="font-size: 10pt">23(b)</font></td>
    <TD><font style="font-size: 10pt">Consent of Boulay PLLP</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">31</font></td>
    <TD><font style="font-size: 10pt">Rule 13a-14(a)/15d-14(a) Certifications</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">32</font></td>
    <TD><font style="font-size: 10pt">Section 1350 Certifications</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">99(a)</font></td>
    <TD><font style="font-size: 10pt">Report of Boulay PLLP</font></td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of Section
13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 50%"><font style="font-size: 10pt">REX AMERICAN RESOURCES CORPORATION</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">By: /s/&nbsp;&nbsp;ZAFAR RIZVI</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Zafar Rizvi</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Chief Executive Officer and President </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: February 24, 2016</P>

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<DOCUMENT>
<TYPE>EX-23.(B)
<SEQUENCE>2
<FILENAME>c84097_ex23b.htm
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right"><B>Exhibit 23(b)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 60%; text-align: center"><IMG SRC="x1_c84097a001.jpg" ALT=""></td>
    <TD STYLE="width: 20%; text-align: right">&nbsp;</td></tr>
</table>
<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in Registration Statements No. 33-81706, No.&nbsp;33-62645, No. 333-35118, No. 333-69690 and No. 333-205419 on Form&nbsp;S-8 of
REX American Resources Corporation of our report dated February 17, 2015, except for the paragraph discussed below, as to which
the date is July 15, 2015, relating to the consolidated financial statements of Patriot Holdings, LLC and Subsidiaries as of December
31, 2014 and 2013 and for each of the three years in the period ended December 31, 2014, referenced in this Annual Report on Form
10-K/A of REX American Resources Corporation for the year ended January 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2015, Patriot Holdings, LLC
and Subsidiaries was acquired by and became a wholly owned subsidiary of GTL Resources USA, Inc., a Delaware corporation and an
affiliate of CHS, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%">&nbsp;</td>
    <td style="width: 50%"><font style="font-size: 10pt">/s/ Boulay PLLP</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Certified Public Accountants</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Minneapolis, Minnesota</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">February 19, 2016</P>

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end
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<DOCUMENT>
<TYPE>EX-31
<SEQUENCE>4
<FILENAME>c84097_ex31.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Zafar Rizvi, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">I have reviewed this amendment on Form 10-K/A to annual report on Form 10-K of REX American
Resources Corporation;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Based on my knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">4.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The registrant&rsquo;s other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Designed such internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the
period covered by this report based on such evaluation; and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(d)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Disclosed in this report any change in the registrant&rsquo;s internal control over financial
reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter
in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting; and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The registrant&rsquo;s other certifying officer(s) and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the
registrant&rsquo;s board of directors (or persons performing the equivalent functions):</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">All significant deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process,
summarize and report financial information; and</FONT></P>

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    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Any fraud, whether or not material, that involves management or other employees who have a
significant role in the registrant&rsquo;s internal control over financial reporting.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</td>
    <TD STYLE="width: 50%; text-align: left"><font style="font-size: 10pt">Date: February 24, 2016</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</td>
    <TD STYLE="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">/s/ ZAFAR RIZVI</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Zafar Rizvi</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Chief Executive Officer and President</font></td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Douglas L. Bruggeman, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">I have reviewed this amendment on Form 10-K/A to annual report on Form 10-K of REX American
Resources Corporation;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Based on my knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">4.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The registrant&rsquo;s other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Designed such internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the
period covered by this report based on such evaluation; and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(d)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Disclosed in this report any change in the registrant&rsquo;s internal control over financial
reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter
in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting; and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The registrant&rsquo;s other certifying officer(s) and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the
registrant&rsquo;s board of directors (or persons performing the equivalent functions):</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">All significant deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process,
summarize and report financial information; and</FONT></P>

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    <!-- Field: /Page -->


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Any fraud, whether or not material, that involves management or other employees who have a
significant role in the registrant&rsquo;s internal control over financial reporting.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 18pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</td>
    <TD STYLE="width: 50%; text-align: left"><font style="font-size: 10pt">Date: February 24, 2016</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</td>
    <TD STYLE="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">/s/ DOUGLAS L. BRUGGEMAN</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Douglas L. Bruggeman</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Vice President, Finance, Treasurer and</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Chief Financial Officer</font></td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 117pt 0pt 81pt; text-align: center"><B>CERTIFICATION PURSUANT TO
18 U.S.C. SECTION<BR>
1350, AS ADOPTED PURSUANT TO SECTION 906 OF<BR>
THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 117pt 0pt 81pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned officers of REX American Resources Corporation
(the &ldquo;Company&rdquo;) hereby certify, to their knowledge, that the Company&rsquo;s Amendment No. 1 on Form 10-K/A to Annual
Report on Form 10-K for the period ended January 31, 2015, which this certificate accompanies, fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained therein fairly presents, in
all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A signed original of this written statement
required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed
form within the electronic version of this written statement required by Section 906, has been provided to the Company and will
be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ ZAFAR RIZVI</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zafar Rizvi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer and President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ DOUGLAS L. BRUGGEMAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Douglas L. Bruggeman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President, Finance, Treasurer and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: February 24, 2016</P>

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<DOCUMENT>
<TYPE>EX-99.(A)
<SEQUENCE>6
<FILENAME>c84097_ex99a.htm
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right"><B>Exhibit 99(a)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 60%; text-align: center"><IMG SRC="x1_c84097a001.jpg" ALT=""></td>
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<P STYLE="font: 20pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">To the Board of Directors of</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Patriot Holdings, LLC and Subsidiaries</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Annawan, Illinois</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">We have audited the consolidated balance
sheets of Patriot Holdings, LLC and Subsidiaries as of December 31, 2014 and 2013, and the related consolidated statements of operations,
changes in members&rsquo; equity and cash flows for each of the three years in the period ended December 31, 2014, not separately
presented here. Patriot Holdings, LLC&rsquo;s management is responsible for these consolidated financial statements. Our responsibility
is to express an opinion on these consolidated financial statements based on our audits.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement.
The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.
Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company&rsquo;s
internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test
basis, evidence supporting the amounts and disclosures in the consolidated financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In our opinion, the consolidated financial
statements referred to above present fairly, in all material respects, the financial position of Patriot Holdings, LLC as of December
31, 2014 and 2013, and the results of its operations and its cash flows for each of the three years in the period ended December
31, 2014 in conformity with accounting principles generally accepted in the United States of America.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On June 1, 2015, Patriot Holdings, LLC and Subsidiaries was
acquired by and became a wholly owned subsidiary of GTL Resources USA, Inc., a Delaware corporation and an affiliate of CHS, Inc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">/s/ Boulay PLLP</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Certified Public Accountants</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Minneapolis, Minnesota</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">February 17, 2015, except for the last paragraph</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">above, as to which the date is July 15, 2015</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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