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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jan. 31, 2020

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 and the line items on the Consolidated Balance Sheets in which the fair values are reflected (in thousands):

	Asset Derivatives				Liability Derivatives
	Fair Value at January 31,				Fair Value at January 31,
	2020		2019		2020		2019

Commodity futures (1)	$	352	$	44	$	—	$	—
Forward purchase contracts (2)	$	—	$	—	$	230	$	22

(1)

Commodity futures assets are included in prepaid expenses and other. These contracts are short/sell positions for approximately 3.7 million bushels of corn and long/buy positions for approximately 2.2 million bushels of corn at January 31, 2020. These contracts are short/sell positions for approximately 2.0 million bushels of corn at January 31, 2019.

(2)

Forward purchase contracts liabilities are included in accrued expenses and other current liabilities while forward purchase contracts assets are included in prepaid expenses and other. These contracts are for purchases of approximately 1.6 million bushels of corn at January 31, 2020 and 1.3 million bushels of corn at January 31, 2019.