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

6 Months Ended

Feb. 28, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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



	February 28, 2018
			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	$	423,978	$	—	$	29,401	$	394,577
Foreign exchange derivatives	6,026		—		3,125		2,901
Embedded derivative asset	22,704		—		—		22,704
Total	$	452,708	$	—	$	32,526	$	420,182
Derivative Liabilities:
Commodity and freight derivatives	$	367,708	$	30,893	$	29,401	$	307,414
Foreign exchange derivatives	12,906		—		3,125		9,781
Interest rate derivatives - non-hedge	1		—		—		1
Total	$	380,615	$	30,893	$	32,526	$	317,196



	August 31, 2017
			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	$	384,648	$	—	$	35,080	$	349,568
Foreign exchange derivatives	8,771		—		3,636		5,135
Embedded derivative asset	25,533		—		—		25,533
Total	$	418,952	$	—	$	38,716	$	380,236
Derivative Liabilities:
Commodity and freight derivatives	$	309,762	$	3,898	$	35,080	$	270,784
Foreign exchange derivatives	19,931		—		3,636		16,295
Total	$	329,693	$	3,898	$	38,716	$	287,079

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

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 and six months ended February 28, 2018, and 2017.



		For the Three Months Ended February 28,						For the Six Months Ended February 28,
	Location of Gain (Loss)	2018			2017			2018			2017
		(Dollars in thousands)
Commodity and freight derivatives	Cost of goods sold	$	(96,310	)	$	56,896		$	(68,559	)	$	75,305
Foreign exchange derivatives	Cost of goods sold	(5,818		)	(3,429		)	948			2,595
Foreign exchange derivatives	Marketing, general and administrative	344			(951		)	(151		)	(806		)
Interest rate derivatives	Interest expense	(1		)	1			(1		)	4
Embedded derivative	Other income	433			468			2,171			29,574
Total		$	(101,352	)	$	52,985		$	(65,592	)	$	106,672

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

all outstanding commodity and freight contracts accounted for as derivative instruments.



	February 28, 2018		August 31, 2017
	Long	Short	Long	Short
	(Units in thousands)
Grain and oilseed - bushels	777,266	1,037,549	570,673	768,540
Energy products - barrels	20,648	11,277	15,072	18,252
Processed grain and oilseed - tons	238	1,158	299	2,347
Crop nutrients - tons	15	9	9	15
Ocean and barge freight - metric tons	6,263	3,349	2,777	1,766
Rail freight - rail cars	168	53	176	75
Natural gas - MMBtu	300	—	500	—

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair value of our derivative instruments designated as fair value hedges and the line items on our Consolidated Balance Sheets in which they are recorded.

Derivative Assets

Derivative Liabilities

Fair Value Hedges

Balance Sheet Location

February 28, 2018

August 31, 2017

Balance Sheet Location

February 28, 2018

August 31, 2017

(Dollars in thousands)

Interest rate swaps

Other assets

—

9,978

Other liabilities

8,616

707

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table sets forth the pretax gains (losses) on derivatives accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the three and six months ended February 28, 2018, and 2017.



		For the Three Months Ended February 28,						For the Six Months Ended February 28,
Gain (Loss) on Fair Value Hedging Relationships:	Location of Gain (Loss)	2018			2017			2018			2017
		(Dollars in thousands)
Interest rate swaps	Interest expense	$	(9,571	)	$	(4,237	)	$	(17,888	)	$	(17,513	)
Hedged item	Interest expense	9,571			4,237			17,888			17,513
Total		$	—		$	—		$	—		$	—

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table provides the location and carrying amount of hedged liabilities in our Consolidated Balance Sheets as of February 28, 2018, and August 31, 2017.



	February 28, 2018				August 31, 2017
Balance Sheet Location	Carrying Amount of Hedged Liabilities		Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities		Carrying Amount of Hedged Liabilities		Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities
	(Dollars in thousands)
Long-term debt	$	486,384	$	8,616	$	504,271	$	(9,271	)