XML 45 R28.htm IDEA: XBRL DOCUMENT

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Oct. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets at Fair Value [Table Text Block]

The following table provides information about the fair values of the Company’s derivative financial instruments (that are not accounted for under the “normal purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Condensed Balance Sheets in which the fair values are reflected (in thousands):

	Asset Derivatives Fair Value				Liability Derivatives Fair Value
	October 31, 2019		January 31, 2019		October 31, 2019		January 31, 2019

Commodity futures (1)	$	150	$	44	$	165	$	-
Forward purchase contracts (2)		100		-		-		22
Total	$	250	$	44	$	165	$	22

(1) Commodity futures assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 3.6 million bushels of corn, long/buy positions for approximately 2.7 million bushels of corn and short/sell positions for approximately 2.1 million gallons of ethanol at October 31, 2019. These contracts are short/sell positions for approximately 2.0 million bushels of corn at January 31, 2019. Commodity futures liabilities are included in accrued expenses and other current liabilities. These contracts are short/sell positions for approximately 2.6 million bushels of corn.

(2) Forward purchase contracts assets are included in prepaid expenses and other current assets. These contracts are for purchases of approximately 0.8 million bushels of corn at October 31, 2019. Forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 1.3 million bushels of corn at January 31, 2019.