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Commitments and Contingencies
 3 Months Ended
Apr. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

Note 12. 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 adverse effect on the Company’s Consolidated Condensed Financial Statements.

 

One Earth and NuGen have combined forward purchase contracts for approximately 9.5 million bushels of corn, the principal raw material for their ethanol plants, and they have combined forward purchase contracts for approximately 666,000 MmBtu (million british thermal units) of natural gas.

One Earth and NuGen have combined sales commitments for approximately 45.4 million gallons of ethanol, approximately 58,000 tons of distillers grains and approximately 14.4 million pounds of non-food grade corn oil.

 

The refined coal entity has various agreements (site license, operating agreements, etc.) containing payment terms based upon production of refined coal under which the Company is required to pay various fees. These fees totaled approximately $0.9 million and approximately $0.3 million in the first quarter of fiscal years 2021 and 2020, respectively.