v3.26.1
DERIVATIVE FINANCIAL INSTRUMENTS - Fair Values for Derivative Financial Instruments (Details) - USD ($)
Jan. 31, 2026
Jan. 31, 2025
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]    
Derivative Asset $ 893,000 $ 2,485,000
Derivative Liability 529,000 378,000
Forward Purchase Contracts [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]    
Derivative Asset [1] 280,000 1,253,000
Derivative Liability [1] 529,000 378,000
Cash Collateral Balance [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]    
Derivative Asset [2] 180,000 2,523,000
Derivative Liability [2] 0 0
Commodity Futures [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]    
Derivative Asset [3] 433,000 (1,291,000)
Derivative Liability [3] 0 0
Net Position with Broker [Member]    
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]    
Derivative Asset 613,000 1,232,000
Derivative Liability $ 0 $ 0
[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 8.8 million and 16.8 million bushels of corn at January 31, 2026 and 2025, 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 9.6 million and 7.6 million bushels of corn at January 31, 2026 and 2025, respectively.
[2] As of January 31, 2026, and 2025, 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, 2026 and 2025, the Company was required to maintain collateral with the counterparty in the amount of approximately $180,000 and $2,523,000, respectively, recorded within “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets.
[3] Commodity futures assets and liabilities 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 2.4 million and 1.8 million bushels of corn, respectively at January 31, 2026. These contracts also included short/sell positions for approximately 3.6 million gallons of ethanol at January 31, 2026. These contracts included short/sell positions and long/buy positions for approximately 6.3 million and 575,000 bushels of corn, respectively at January 31, 2025. These contracts also included short/sell positions for approximately 4.2 million gallons of ethanol at January 31, 2025.