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Derivative Financial Instruments and Hedging Activities Derivative Financial Insturments and Hedging Activities (Tables)

3 Months Ended

Nov. 30, 2014

Derivative Instruments, Gain (Loss) [Line Items]

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Derivatives Not Designated as Hedging Instruments

The majority of our derivative instruments have not been designated as hedging instruments. The following table sets forth the pretax gains (losses) on derivatives not accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the three months ended November 30, 2014 and 2013.



		For the Three Months Ended November 30,
	Location of Gain (Loss)	2014		2013
		(Dollars in thousands)
Commodity and freight derivatives	Cost of goods sold	$	3,998	$	(19,789	)
Foreign exchange derivatives	Cost of goods sold	2,411		(422		)
Interest rate derivatives	Interest, net	29		(1		)
Total		$	6,438	$	(20,212	)

Schedule of Derivative Instruments, Purchase and Sales Contracts [Table Text Block]

As of November 30, 2014 and August 31, 2014, we had the following outstanding purchase and sales contracts:



	November 30, 2014		August 31, 2014
	Purchase Contracts	Sales Contracts	Purchase Contracts	Sales Contracts
	(Units in thousands)
Grain and oilseed - bushels	599,176	988,186	665,690	938,140
Energy products - barrels	32,106	50,597	27,754	50,450
Soy products - tons	126	1,271	37	1,212
Crop nutrients - tons	582	1,131	1,613	1,607
Ocean and barge freight - metric tons	1,260	308	5,423	4,005
Rail freight - rail cars	249	126	321	186
Livestock - pounds	—	4,240	—	46,280

Reconciliation of gross and net fair values of assets and liabilities subject to offsetting arrangements [Table Text Block]



	August 31, 2014
			Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
	Gross Amounts Recognized		Cash Collateral		Derivative Instruments		Net Amounts
	(Dollars in thousands)
Derivative Assets:
Commodity and freight derivatives	$	597,210	$	—	$	42,229	$	554,981
Foreign exchange derivatives	2,523		—		1,174		1,349
Interest rate derivatives - hedge	4,200		—		—		4,200
Total	$	603,933	$	—	$	43,403	$	560,530
Derivative Liabilities:
Commodity and freight derivatives	$	597,612	$	2,504	$	42,229	$	552,879
Foreign exchange derivatives	2,248		—		1,174		1,074
Interest rate derivatives - non-hedge	130		—		—		130
Total	$	599,990	$	2,504	$	43,403	$	554,083



	November 30, 2014
			Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
	Gross Amounts Recognized		Cash Collateral		Derivative Instruments		Net Amounts
	(Dollars in thousands)
Derivative Assets:
Commodity and freight derivatives	$	681,270	$	—	$	156,944	$	524,326
Foreign exchange derivatives	6,929		—		198		6,731
Interest rate derivatives - hedge	12,367		—		—		12,367
Total	$	700,566	$	—	$	157,142	$	543,424
Derivative Liabilities:
Commodity and freight derivatives	$	628,365	$	53,166	$	156,944	$	418,255
Foreign exchange derivatives	264		—		198		66
Interest rate derivatives - hedge	594		—		—		594
Interest rate derivatives - non-hedge	116		—		—		116
Total	$	629,339	$	53,166	$	157,142	$	419,031

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table sets forth the pretax gains (losses) recorded in accumulated other comprehensive loss relating to cash flow hedges for the three months ended November 30, 2014 and 2013.



	For the Three Months Ended November 30,
	2014			2013
	(Dollars in thousands)
Interest rate derivatives	$	(594	)	$	(5,281	)

Schedule of Derivative Instruments, Gain (Loss) in Consolidated Statements of Operations

During the three months ended November 30, 2014, we recorded offsetting fair value adjustments of $8.2 million, with no ineffectiveness recorded in earnings.