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DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]    
Asset Derivatives, Fair Value $ 2,434 $ 1,920
Liability Derivatives, Fair Value 802 422
Asset Derivatives, Net position with broker 1,855 1,815
Liability Derivatives, Net position with broker
Forward Contracts [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]    
Asset Derivatives, Fair Value [1] 579 105
Liability Derivatives, Fair Value [1] 802 355
Cash Collateral Balance [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]    
Asset Derivatives, Fair Value [2] 2,152 1,735
Liability Derivatives, Fair Value [2]
Commodity Contract [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]    
Asset Derivatives, Fair Value [3] (297) 80
Liability Derivatives, Fair Value [3] $ 67
[1] Forward purchase contracts assets are included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets. These contracts are for purchases of approximately 9.3 million and 5.2 million bushels of corn at January 31, 2024 and 2023, respectively. Forward purchase contracts liabilities are included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Balance Sheets. These contracts are for purchases of approximately 8.2 million and 12.8 million bushels of corn at January 31, 2024 and 2023, respectively.
[2] As of January 31, 2024, and 2023, all of the derivative financial instruments held by the Company were subject to enforceable master netting arrangements. The Company’s accounting policy is to offset position amounts owed or owing with the same counterparty. Depending on the amount of unrealized gains and losses on derivative contracts held by the Company, the counterparty may require collateral to secure the Company’s derivative contract positions. As of January 31, 2024 and 2023, the Company was required to maintain collateral with the counterparty in the amount of approximately $2,152,000, recorded within “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets and $1,735,000, included with “Restricted cash” on the accompanying Consolidated Balance Sheets, respectively.
[3] Commodity futures assets are included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets. These contracts included short/sell positions and long/buy positions for approximately 255,000 and 6.9 million bushels of corn, respectively at January 31, 2024. These contracts also included short/sell positions for approximately 210,000 gallons of ethanol at January 31, 2024. These contracts included short/sell positions and long/buy positions for approximately 3.2 million and 725,000 bushels, respectively at January 31, 2023.