<SEC-DOCUMENT>0000930413-16-005625.txt : 20160325
<SEC-HEADER>0000930413-16-005625.hdr.sgml : 20160325
<ACCEPTANCE-DATETIME>20160224130651
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ACCESSION NUMBER:		0000930413-16-005625
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		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:		CORRESP

	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
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<TYPE>CORRESP
<SEQUENCE>1
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">REX American Resources Corporation</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">7720 Paragon Road</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">Dayton, Ohio 45459</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in;">(937) 276-3931</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0">February 24, 2016</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0">Mail Stop 4631</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Mr. John Cash</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Accounting Branch Chief</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Office of Manufacturing and Construction</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 4%;">&nbsp;</TD>
    <TD STYLE="width: 6%;">RE:</TD>
    <TD STYLE="width: 90%;">REX American Resources Corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Form 10-K for Fiscal Year Ended January 31, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Filed March 31, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>File No. 001-09097</TD></TR>
</TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0">Dear Mr. Cash:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">This letter sets forth below the responses of REX American Resources
Corporation (the &ldquo;Company&rdquo;) to the comments of the Staff of the Division of Corporation Finance in its letter to the
Company dated January 28, 2016, with respect to the above referenced filing. In responding to the Staff&rsquo;s comments, we have
utilized the headings and numbering system in the Staff&rsquo;s letter. This letter has been filed with the Commission as correspondence
through EDGAR. The Staff&rsquo;s comments, indicated in bold, are followed by the Company&rsquo;s responses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0"><B><U>Form 10-K for the
Year Ended January 31, 2015</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0"><B><U>Management&rsquo;s
Discussion and Analysis of Results of Financial Condition&hellip;page 21</U></B></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>In your earnings call for the fourth quarter of fiscal 2014 your management discussed, among other topics,
the impacts of declining oil prices, regulatory uncertainty and associated lobbying efforts, oversupply of ethanol and increasing
Chinese demand for DDG. However, you do not include a discussion of these trends and uncertainties and their impact or potential
impact on your operations. Please ensure that your MD&amp;A contains a discussion of management&rsquo;s views regarding the trends
and uncertainties that have had or that you reasonably expect will have material impacts on your results of operations. Please
see Section III.B.3 of SEC Release 33-8350 and Item 303(a)(3)(ii) of Regulation S-K and provide a discussion of such trends and
uncertainties in future filings.</B></TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 4.5pt 0 0">In response to the staff&rsquo;s comments, we will include
in future filings, beginning with our Form 10-K for the year ended January 31, 2016, discussion of management&rsquo;s views regarding
the trends and uncertainties that have had or that we reasonably expect will have material impacts on our results of operations
in our MD&amp;A.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0"><B><U>Item 8. Financial
Statements and Supplementary Data, page37</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>We note that your auditor did not audit the financial statements of Patriot Holdings, LLC. Instead, the financial statements
of Patriot Holdings, LLC were audited by other auditors as referred to in the audit report on page 62. As such, it appears that
your auditor has placed reliance on the work of other auditors. Please confirm, and if true, amend your Form 10-K to also provide
the other auditors&rsquo; audit report as well as a consent. Refer to Rule 2-05 of Regulation S-X.</B></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">In response to the staff&rsquo;s comments, we confirm to the Staff
that our auditor placed reliance on the work of other auditors. We filed a Form 10-K/A to provide the other auditors&rsquo; audit
report and a consent on February 24, 2016.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">In connection with responding to the Staff&rsquo;s comments, we acknowledge that:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 91%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>The Company is responsible for the adequacy and accuracy of the disclosure in the filing;</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>&bull;</TD>
    <TD>Staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and</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>&bull;</TD>
    <TD>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">The Company may not assert staff comments as a defense in any proceeding
        initiated by the Commission or any person under the federal securities laws of the United States.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Should you require further clarification of any of the issues raised
in this letter, please contact Douglas L. Bruggeman at (937) 276-3931 (or by fax at (937) 276-8643) or e-mail <FONT STYLE="color: Blue"><U>dbruggeman@rexamerican.com</U></FONT>.
We respectfully request that the Staff let us know at its earliest convenience if we can be of any further assistance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Douglas L. Bruggeman</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0;">Douglas L. Bruggeman</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0;">Vice President-Finance, Chief Financial Officer
and Treasurer</P>

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



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