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Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Aug. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of gross fair values of derivative assets, derivative liabilities, and margin deposits (cash collateral) The following tables present the gross fair values of derivative assets, derivative liabilities and margin deposits (cash collateral) recorded on our Consolidated Balance Sheets, along with related amounts permitted to be offset in accordance with U.S. GAAP. Although we have certain netting arrangements for our exchange-traded futures and options contracts and certain
OTC contracts, we have elected to report our derivative instruments on a gross basis on our Consolidated Balance Sheets under ASC Topic 210-20, Balance Sheet - Offsetting.
August 31, 2021
Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
Gross Amounts RecognizedCash CollateralDerivative InstrumentsNet Amounts
 (Dollars in thousands)
Derivative Assets
Commodity derivatives$532,832 $— $4,174 $528,658 
Foreign exchange derivatives19,429 — 5,582 13,847 
Embedded derivative asset16,488 — — 16,488 
Total$568,749 $— $9,756 $558,993 
Derivative Liabilities
Commodity derivatives$444,861 $2,485 $4,174 $438,202 
Foreign exchange derivatives8,506 — 5,582 2,924 
Total$453,367 $2,485 $9,756 $441,126 

August 31, 2020
Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
Gross Amounts RecognizedCash CollateralDerivative InstrumentsNet Amounts
 (Dollars in thousands)
Derivative Assets
Commodity derivatives$327,493 $— $2,980 $324,513 
Foreign exchange derivatives11,809 — 9,385 2,424 
Embedded derivative asset18,998 — — 18,998 
Total$358,300 $— $12,365 $345,935 
Derivative Liabilities
Commodity derivatives$343,343 $956 $5,578 $336,809 
Foreign exchange derivatives69,466 — 9,385 60,081 
Total$412,809 $956 $14,963 $396,890 
Pretax gains (losses) on derivatives not accounted for as hedging instruments The majority of our derivative instruments have not been designated as hedging instruments. The following table sets forth the pretax gains (losses) on derivatives not accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the years ended August 31, 2021, 2020 and 2019:
Derivative TypeLocation of
Gain (Loss)		202120202019
  (Dollars in thousands)
Commodity derivativesCost of goods sold$(971,581)$89,248 $125,323 
Foreign exchange derivativesCost of goods sold25,277 (184,692)4,228 
Foreign exchange derivativesMarketing, general and administrative expenses1,105 (2,986)(1,229)
Interest rate derivativesInterest expense— (1,226)— 
Embedded derivativeOther income2,489 2,634 2,769 
Total $(942,710)$(97,022)$131,091 
Schedule of notional volumes for outstanding commodity contracts The table below presents the notional volumes for all outstanding commodity contracts:
 20212020
Derivative TypeLongShortLongShort
 (Units in thousands)
Grain and oilseed (bushels)666,726 851,582 664,673892,303
Energy products (barrels)9,881 7,656 10,0286,570
Processed grain and oilseed (tons)559 3,418 6573,304
Crop nutrients (tons)66 12 74127
Ocean freight (metric tons)210 — 1,14095
Schedule of fair value of derivative interest rate swap instruments designated as fair value hedges The following table presents the fair value of our commodity derivative instruments designated as cash flow hedges and the line items on our Consolidated Balance Sheets in which they are recorded as of August 31, 2021 and 2020:
Derivative AssetsDerivative Liabilities
Balance Sheet Location20212020Balance Sheet Location20212020
(Dollars in thousands)(Dollars in thousands)
Other current assets$11,874 $34,052 Other current liabilities$1,001 $8,821 
Schedule of pretax gains (losses) on derivatives accounted for as hedging instruments
The following table sets forth the pretax gains (losses) on derivatives accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the years ended August 31, 2021, 2020 and 2019:
Gain (Loss) on Fair Value Hedging RelationshipsLocation of
Gain (Loss)		202120202019
(Dollars in thousands)
Interest rate swapsInterest expense$— $(1,897)$21,158 
Hedged itemInterest expense— 1,897 (21,158)
Total$— $— $— 
The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the years ended August 31, 2021, 2020 and 2019:
202120202019
 (Dollars in thousands)
Commodity derivatives$(7,824)$(2,596)$27,650