v3.26.1
FAIR VALUE MEASUREMENTS
 9 Months Ended
Jul. 31, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following table provides information on those assets (liabilities) measured at fair value on a recurring and non-recurring basis.
Fair Value as ofFair Value Measurement Using
July 31, 2026Level 1Level 2Level 3
Derivative instruments - commodities
     In gain position$190,812 $27,437 $163,375 $— 
     In loss position(1,181,170)(1,980)(1,179,190)— 
Other assets - tax credits9,500,000 9,500,000 

Fair Value as ofFair Value Measurement Using
October 31, 2025Level 1Level 2Level 3
Derivative instruments - commodities
     In gain position$4,345 $750 $3,595 $— 
     In loss position(1,148,116)(2,091)(1,146,025)— 
Other assets - tax credits10,400,000 10,400,000 

The Company determines the fair values of commodities by obtaining the fair value measurements from an independent pricing service based on dealer quotes and live trading levels from the Chicago Board of Trade.

The Company determines the fair value of tax credits by including the observable inputs such as the gross credit amount net of broker fees, energy credits and compliance payments. The unobservable inputs include the discount rate from the tax credit sale.
The following table summarizes the roll forward of Level 3 nonrecurring fair value measurements as of July 31, 2026:

Fair Value as of October 31, 2025$10,400,000 
Tax credit generation3,300,000 
Other229,780 
Net Fair Value at January 31, 202613,929,780 
Tax credit generation3,400,000 
Net Fair Value at April 30, 202617,329,780 
Tax credit generation5,000,000 
Proceeds from sale of 2025 tax credits(12,829,780)
Net Fair Value at July 31, 20269,500,000